Legacy Capital Wealth Partners LLC Makes New $367,000 Investment in The Sherwin-Williams Company (NYSE:SHW)

Legacy Capital Wealth Partners LLC purchased a new position in The Sherwin-Williams Company (NYSE:SHW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,230 shares of the specialty chemicals company’s stock, valued at approximately $367,000.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Sherwin-Williams during the 4th quarter worth about $1,176,356,000. Capital World Investors raised its holdings in Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after acquiring an additional 1,075,351 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in Sherwin-Williams by 132.8% in the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after acquiring an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Sherwin-Williams by 610.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after acquiring an additional 898,143 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Sherwin-Williams by 8,986.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock valued at $166,592,000 after purchasing an additional 528,243 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 1.5 %

Shares of Sherwin-Williams stock opened at $363.75 on Wednesday. The firm has a market cap of $91.76 billion, a price-to-earnings ratio of 38.78, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $371.19. The company’s 50-day simple moving average is $335.40 and its 200-day simple moving average is $324.00. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the prior year, the business posted $3.29 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.79%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KeyCorp boosted their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. BMO Capital Markets upped their price objective on Sherwin-Williams from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. UBS Group raised their target price on Sherwin-Williams from $375.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their price target on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $361.95.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.