Magnetar Financial LLC Takes $5.62 Million Position in The Sherwin-Williams Company $SHW

Magnetar Financial LLC purchased a new stake in The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 16,226 shares of the specialty chemicals company’s stock, valued at approximately $5,618,000.

A number of other large investors have also added to or reduced their stakes in SHW. MTM Investment Management LLC bought a new position in Sherwin-Williams during the 2nd quarter worth $26,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Sherwin-Williams by 104.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Rossby Financial LCC grew its holdings in shares of Sherwin-Williams by 96.0% during the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Sherwin-Williams in the second quarter worth $36,000. Finally, True Wealth Design LLC increased its position in shares of Sherwin-Williams by 129.8% in the third quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Down 2.4%

SHW stock opened at $322.56 on Thursday. The firm has a 50-day moving average price of $352.38 and a 200-day moving average price of $345.05. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $379.65. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $79.79 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 2.86 and a beta of 1.25.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.07. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 EPS. As a group, equities research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.79. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. Sherwin-Williams’s payout ratio is presently 31.16%.

Analyst Upgrades and Downgrades

SHW has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Vertical Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price on the stock in a report on Wednesday, January 7th. UBS Group set a $420.00 target price on shares of Sherwin-Williams in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Finally, Royal Bank Of Canada set a $390.00 price target on shares of Sherwin-Williams and gave the stock an “outperform” rating in a research report on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $388.21.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,976 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the sale, the insider owned 5,365 shares of the company’s stock, valued at $1,928,717.50. This trade represents a 35.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Bryan J. Young sold 2,513 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the sale, the senior vice president owned 10,045 shares in the company, valued at $3,661,101.15. This represents a 20.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

About Sherwin-Williams

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.