Magnetar Financial LLC Takes Position in Sherwin-Williams Co (SHW)
Magnetar Financial LLC bought a new position in Sherwin-Williams Co (NYSE:SHW) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,037 shares of the specialty chemicals company’s stock, valued at approximately $1,087,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sherwin-Williams by 5.0% in the second quarter. Vanguard Group Inc. now owns 6,591,936 shares of the specialty chemicals company’s stock valued at $2,313,506,000 after acquiring an additional 315,903 shares during the period. BlackRock Inc. boosted its position in shares of Sherwin-Williams by 3.9% in the second quarter. BlackRock Inc. now owns 5,472,759 shares of the specialty chemicals company’s stock valued at $1,920,720,000 after acquiring an additional 204,766 shares during the period. FMR LLC boosted its position in shares of Sherwin-Williams by 18.1% in the second quarter. FMR LLC now owns 4,054,902 shares of the specialty chemicals company’s stock valued at $1,423,109,000 after acquiring an additional 621,190 shares during the period. Fiera Capital Corp boosted its position in shares of Sherwin-Williams by 11.3% in the second quarter. Fiera Capital Corp now owns 1,282,221 shares of the specialty chemicals company’s stock valued at $450,009,000 after acquiring an additional 130,002 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Sherwin-Williams by 30.6% in the third quarter. Principal Financial Group Inc. now owns 1,057,305 shares of the specialty chemicals company’s stock valued at $378,558,000 after acquiring an additional 247,553 shares during the period. Hedge funds and other institutional investors own 75.99% of the company’s stock.
A number of equities analysts have recently commented on SHW shares. Robert W. Baird restated a “buy” rating and issued a $375.00 price objective on shares of Sherwin-Williams in a research report on Friday, September 1st. Morgan Stanley set a $425.00 price objective on shares of Sherwin-Williams and gave the company an “overweight” rating in a research report on Wednesday, October 4th. KeyCorp restated an “overweight” rating and issued a $440.00 price objective (up from $415.00) on shares of Sherwin-Williams in a research report on Wednesday, October 4th. Longbow Research restated a “buy” rating and issued a $440.00 price objective (up from $400.00) on shares of Sherwin-Williams in a research report on Monday, October 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Sherwin-Williams from $390.00 to $423.00 and gave the company an “outperform” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Sherwin-Williams has an average rating of “Hold” and an average target price of $402.32.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $4.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.70 by $0.05. The firm had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. Sherwin-Williams had a net margin of 7.82% and a return on equity of 58.02%. The business’s quarterly revenue was up 37.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.23 EPS. analysts anticipate that Sherwin-Williams Co will post 15.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.83%. Sherwin-Williams’s payout ratio is 29.90%.
In other news, insider Robert J. Davisson sold 8,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $390.07, for a total value of $3,432,616.00. Following the completion of the sale, the insider now directly owns 14,812 shares in the company, valued at approximately $5,777,716.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert J. Davisson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $407.11, for a total transaction of $407,110.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,122 shares of company stock valued at $5,969,846. Company insiders own 1.69% of the company’s stock.
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Sherwin-Williams Company Profile
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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