WealthPLAN Partners LLC Boosts Position in Sherwin-Williams Co (SHW)
WealthPLAN Partners LLC increased its position in shares of Sherwin-Williams Co (NYSE:SHW) by 40.7% during the 1st quarter, HoldingsChannel reports. The fund owned 4,948 shares of the specialty chemicals company’s stock after acquiring an additional 1,432 shares during the period. WealthPLAN Partners LLC’s holdings in Sherwin-Williams were worth $1,940,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alps Advisors Inc. purchased a new stake in Sherwin-Williams during the 4th quarter worth about $210,000. Candriam Luxembourg S.C.A. increased its holdings in Sherwin-Williams by 5.8% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 6,908 shares of the specialty chemicals company’s stock worth $2,833,000 after purchasing an additional 377 shares during the period. New Mexico Educational Retirement Board increased its holdings in Sherwin-Williams by 5.3% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,921 shares of the specialty chemicals company’s stock worth $3,248,000 after purchasing an additional 400 shares during the period. Barings LLC purchased a new stake in Sherwin-Williams during the 4th quarter worth about $1,912,000. Finally, Cetera Advisors LLC increased its holdings in Sherwin-Williams by 12.3% during the 4th quarter. Cetera Advisors LLC now owns 9,583 shares of the specialty chemicals company’s stock worth $3,932,000 after purchasing an additional 1,048 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
SHW has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Cleveland Research reiterated a “buy” rating on shares of Sherwin-Williams in a report on Wednesday, March 7th. Credit Suisse Group dropped their price objective on Sherwin-Williams from $473.00 to $457.00 and set an “outperform” rating on the stock in a report on Wednesday, April 25th. BMO Capital Markets initiated coverage on Sherwin-Williams in a report on Tuesday, March 27th. They issued a “market perform” rating and a $453.00 price objective on the stock. Finally, Barclays dropped their price objective on Sherwin-Williams from $450.00 to $420.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $439.65.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, April 24th. The specialty chemicals company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.41. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. Sherwin-Williams had a return on equity of 48.06% and a net margin of 11.02%. The firm’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.27 EPS. sell-side analysts anticipate that Sherwin-Williams Co will post 18.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 18th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $3.44 dividend on an annualized basis and a yield of 0.87%. Sherwin-Williams’s dividend payout ratio is presently 24.11%.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.
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