Ellevest Inc. lifted its stake in The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 112.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 330 shares of the specialty chemicals company's stock after acquiring an additional 175 shares during the period. Ellevest Inc.'s holdings in Sherwin-Williams were worth $74,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brinker Capital Investments LLC grew its stake in shares of Sherwin-Williams by 45.7% in the second quarter. Brinker Capital Investments LLC now owns 80,614 shares of the specialty chemicals company's stock worth $18,050,000 after acquiring an additional 25,293 shares during the last quarter. Veriti Management LLC lifted its position in Sherwin-Williams by 4.8% in the second quarter. Veriti Management LLC now owns 5,220 shares of the specialty chemicals company's stock worth $1,169,000 after purchasing an additional 238 shares during the period. LifePro Asset Management lifted its position in Sherwin-Williams by 3.1% in the second quarter. LifePro Asset Management now owns 2,296 shares of the specialty chemicals company's stock worth $514,000 after purchasing an additional 69 shares during the period. Moseley Investment Management Inc. lifted its position in Sherwin-Williams by 15.3% in the second quarter. Moseley Investment Management Inc. now owns 2,470 shares of the specialty chemicals company's stock worth $553,000 after purchasing an additional 328 shares during the period. Finally, Berkshire Bank lifted its position in Sherwin-Williams by 3.9% in the second quarter. Berkshire Bank now owns 3,363 shares of the specialty chemicals company's stock worth $753,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 77.48% of the company's stock.
Get Sherwin-Williams alerts:Sherwin-Williams Price Performance
Shares of SHW stock opened at $204.75 on Friday. The stock has a 50-day moving average price of $234.30 and a 200 day moving average price of $246.73. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 3.86. The firm has a market cap of $53.07 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.06 and a beta of 1.05. The Sherwin-Williams Company has a 12 month low of $204.57 and a 12 month high of $354.15.
Sherwin-Williams (NYSE:SHW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The specialty chemicals company reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.81 by ($0.40). The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $6.01 billion. Sherwin-Williams had a return on equity of 82.04% and a net margin of 8.45%. Sherwin-Williams's revenue for the quarter was down 46.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.65 earnings per share. Research analysts expect that The Sherwin-Williams Company will post 8.64 EPS for the current year.Sherwin-Williams Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a $0.60 dividend. The ex-dividend date was Thursday, August 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. Sherwin-Williams's payout ratio is 36.09%.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Mizuho reduced their target price on Sherwin-Williams from $310.00 to $294.00 and set a "buy" rating for the company in a research report on Thursday, July 14th. Bank of America cut Sherwin-Williams from a "buy" rating to a "neutral" rating and cut their price objective for the company from $313.00 to $292.00 in a report on Wednesday, July 13th. Wells Fargo & Company cut their price objective on Sherwin-Williams from $285.00 to $270.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Evercore ISI cut their price objective on Sherwin-Williams to $305.00 in a report on Thursday, June 9th. Finally, Northcoast Research raised Sherwin-Williams from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has an average rating of "Hold" and an average target price of $310.39.
About Sherwin-Williams
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The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through 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.
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