Kore Private Wealth LLC acquired a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,803 shares of the specialty chemicals company’s stock, valued at approximately $491,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. FFT Wealth Management LLC purchased a new position in shares of The Sherwin-Williams in the 2nd quarter worth about $25,000. Gradient Investments LLC raised its position in shares of The Sherwin-Williams by 217.2% in the 2nd quarter. Gradient Investments LLC now owns 92 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 63 shares during the last quarter. Pinz Capital Management LP purchased a new position in shares of The Sherwin-Williams in the 1st quarter worth about $74,000. Corbenic Partners LLC raised its position in shares of The Sherwin-Williams by 200.0% in the 2nd quarter. Corbenic Partners LLC now owns 105 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. Finally, Tarbox Family Office Inc. raised its position in shares of The Sherwin-Williams by 200.0% in the 2nd quarter. Tarbox Family Office Inc. now owns 105 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on SHW shares. Royal Bank of Canada reduced their price objective on The Sherwin-Williams from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, September 29th. Barclays lifted their price objective on The Sherwin-Williams from $299.00 to $305.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. Wells Fargo & Company cut their price target on The Sherwin-Williams from $330.00 to $327.00 and set an “overweight” rating for the company in a research note on Thursday, September 30th. JPMorgan Chase & Co. boosted their price objective on The Sherwin-Williams from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, September 9th. Finally, Morgan Stanley boosted their price objective on The Sherwin-Williams from $315.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, August 20th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $340.89.
The Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Monday, July 26th. The specialty chemicals company reported $2.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.68 by ($0.03). The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The Sherwin-Williams had a return on equity of 72.71% and a net margin of 11.05%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $7.10 earnings per share. On average, analysts forecast that The Sherwin-Williams Company will post 9.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 20th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The Sherwin-Williams’s dividend payout ratio (DPR) is 26.86%.
In other news, CFO Allen J. Mistysyn sold 22,749 shares of the business’s stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $286.46, for a total transaction of $6,516,678.54. Following the transaction, the chief financial officer now owns 41,099 shares of the company’s stock, valued at approximately $11,773,219.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph F. Sladek sold 432 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $302.32, for a total value of $130,602.24. The disclosure for this sale can be found here. Insiders have sold a total of 215,997 shares of company stock worth $62,880,055 over the last ninety days. Insiders own 0.51% of the company’s stock.
About The Sherwin-Williams
The Sherwin-Williams Co engages in the manufacture and trade of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor covering.
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