Argonautica Private Wealth Management Inc. Takes Position in The Sherwin-Williams Company $SHW

Argonautica Private Wealth Management Inc. purchased a new stake in The Sherwin-Williams Company (NYSE:SHW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,513 shares of the specialty chemicals company’s stock, valued at approximately $3,610,000. Sherwin-Williams makes up approximately 1.1% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 21st largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Synergy Investment Management LLC boosted its position in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares during the period. Valley National Advisers Inc. boosted its position in Sherwin-Williams by 68.0% during the 2nd quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 34 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new stake in Sherwin-Williams during the 1st quarter worth approximately $30,000. Salomon & Ludwin LLC acquired a new stake in Sherwin-Williams during the 2nd quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new stake in Sherwin-Williams during the 1st quarter worth approximately $33,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHW has been the topic of several recent research reports. Bank of America cut their target price on shares of Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Wells Fargo & Company set a $395.00 price target on shares of Sherwin-Williams and gave the stock an “overweight” rating in a research report on Friday, October 10th. Citigroup restated a “neutral” rating and issued a $380.00 price target (up previously from $375.00) on shares of Sherwin-Williams in a research report on Monday, October 6th. Loop Capital dropped their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Finally, Mizuho dropped their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.13.

Sherwin-Williams Stock Up 2.2%

Sherwin-Williams stock opened at $338.66 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. The firm’s fifty day moving average is $352.34 and its 200 day moving average is $347.88. The company has a market capitalization of $84.44 billion, a PE ratio of 33.60, a PEG ratio of 3.10 and a beta of 1.20.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the previous year, the firm earned $3.70 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 14th. Sherwin-Williams’s payout ratio is presently 31.35%.

Insiders Place Their Bets

In related news, insider Justin T. Binns sold 609 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the transaction, the insider owned 17,922 shares in the company, valued at $6,609,992.04. The trade was a 3.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James P. Lang sold 860 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the transaction, the chief accounting officer owned 377 shares in the company, valued at $132,081.95. The trade was a 69.52% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Sherwin-Williams Company Profile

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.