Sun Life Financial INC lessened its position in shares of Sherwin-Williams Co (NYSE:SHW) by 53.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65 shares of the specialty chemicals company’s stock after selling 74 shares during the period. Sun Life Financial INC’s holdings in Sherwin-Williams were worth $30,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FineMark National Bank & Trust increased its stake in Sherwin-Williams by 2.7% in the second quarter. FineMark National Bank & Trust now owns 1,652 shares of the specialty chemicals company’s stock valued at $757,000 after purchasing an additional 43 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Sherwin-Williams by 27.3% in the second quarter. Benjamin Edwards Inc. now owns 261 shares of the specialty chemicals company’s stock valued at $120,000 after purchasing an additional 56 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Sherwin-Williams in the second quarter valued at $1,059,000. Clearstead Advisors LLC increased its stake in Sherwin-Williams by 19.0% in the second quarter. Clearstead Advisors LLC now owns 2,834 shares of the specialty chemicals company’s stock valued at $1,299,000 after purchasing an additional 453 shares in the last quarter. Finally, Rational Advisors LLC increased its stake in Sherwin-Williams by 405.6% in the second quarter. Rational Advisors LLC now owns 996 shares of the specialty chemicals company’s stock valued at $456,000 after purchasing an additional 799 shares in the last quarter. 76.72% of the stock is owned by institutional investors and hedge funds.
Sherwin-Williams stock traded up $2.07 during midday trading on Friday, hitting $526.75. 404,822 shares of the stock were exchanged, compared to its average volume of 464,749. Sherwin-Williams Co has a 52-week low of $355.28 and a 52-week high of $536.74. The stock has a market capitalization of $48.41 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The business’s 50-day moving average price is $504.11 and its 200-day moving average price is $458.89. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, August 15th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 24.39%.
SHW has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on shares of Sherwin-Williams to $517.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Royal Bank of Canada boosted their target price on shares of Sherwin-Williams to $550.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird set a $600.00 target price on shares of Sherwin-Williams and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Susquehanna Bancshares boosted their target price on shares of Sherwin-Williams from $545.00 to $580.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Finally, Credit Suisse Group boosted their target price on shares of Sherwin-Williams from $487.00 to $525.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Sherwin-Williams currently has a consensus rating of “Buy” and an average target price of $522.58.
In other Sherwin-Williams news, Chairman John G. Morikis sold 16,260 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $471.26, for a total value of $7,662,687.60. Following the transaction, the chairman now directly owns 112,276 shares in the company, valued at $52,911,187.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David F. Hodnik sold 501 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.57, for a total transaction of $261,306.57. Following the completion of the transaction, the director now owns 9,569 shares in the company, valued at $4,990,903.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,608 shares of company stock worth $15,329,391. 0.50% of the stock is owned by corporate insiders.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
Recommended Story: What Does a Sell-Side Analyst Rating Mean?
Receive News & Ratings for Sherwin-Williams Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams and related companies with MarketBeat.com's FREE daily email newsletter.