Kore Private Wealth LLC acquired a new stake in The Sherwin-Williams Company (NYSE:SHW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,803 shares of the specialty chemicals company’s stock, valued at approximately $491,000.
Several other hedge funds have also added to or reduced their stakes in SHW. Gradient Investments LLC lifted its stake 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 valued at $25,000 after purchasing an additional 63 shares during the last quarter. FFT Wealth Management LLC acquired a new stake in shares of The Sherwin-Williams in the 2nd quarter valued at $25,000. Corbenic Partners LLC lifted its stake 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 valued at $29,000 after purchasing an additional 70 shares during the last quarter. Tarbox Family Office Inc. lifted its position in The Sherwin-Williams by 200.0% during the 2nd quarter. Tarbox Family Office Inc. now owns 105 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 70 shares during the last quarter. Finally, RE Advisers Corp acquired a new position in The Sherwin-Williams during the 2nd quarter worth $34,000. 75.94% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Allen J. Mistysyn sold 22,749 shares of the business’s stock in a transaction on Wednesday, July 28th. The shares were 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 in the company, valued at approximately $11,773,219.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas P. Gilligan sold 9,780 shares of the business’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $302.87, for a total transaction of $2,962,068.60. The disclosure for this sale can be found here. Insiders sold a total of 215,997 shares of company stock worth $62,880,055 in the last 90 days. Corporate insiders own 0.51% of the company’s stock.
The Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Monday, July 26th. The specialty chemicals company reported $2.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.68 by ($0.03). The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates 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 for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the firm posted $7.10 EPS. Equities research analysts expect that The Sherwin-Williams Company will post 9.18 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 20th were given a $0.55 dividend. The ex-dividend date was Thursday, August 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The Sherwin-Williams’s dividend payout ratio (DPR) is currently 26.86%.
A number of research analysts have weighed in on SHW shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Sherwin-Williams from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Morgan Stanley boosted their target price on shares of The Sherwin-Williams from $315.00 to $345.00 and gave the stock an “overweight” rating in a research report on Friday, August 20th. Barclays boosted their price objective on shares of The Sherwin-Williams from $299.00 to $305.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. Mizuho assumed coverage on shares of The Sherwin-Williams in a report on Tuesday. They set a “buy” rating and a $352.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Sherwin-Williams from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, September 9th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $340.89.
The Sherwin-Williams Profile
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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