Mirae Asset Global Investments Co. Ltd. Buys New Shares in The Sherwin-Williams Company $SHW

Mirae Asset Global Investments Co. Ltd. bought a new position in The Sherwin-Williams Company (NYSE:SHW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 100,137 shares of the specialty chemicals company’s stock, valued at approximately $32,371,000.

Other hedge funds have also added to or reduced their stakes in the company. Wilkerson Advisory Group LLC increased its stake in shares of Sherwin-Williams by 172.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 79 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. GK Wealth Management LLC bought a new position in Sherwin-Williams during the third quarter worth $25,000. Whipplewood Advisors LLC acquired a new stake in Sherwin-Williams in the first quarter worth $28,000. Montgomery Financial Services LLC acquired a new stake in Sherwin-Williams in the second quarter worth $29,000. Finally, Tacita Capital Inc bought a new stake in Sherwin-Williams in the second quarter valued at $30,000. 77.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Justin Binns sold 13,500 shares of Sherwin-Williams stock in a transaction on Monday, August 17th. The stock was sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the sale, the insider directly owned 21,937 shares in the company, valued at $7,737,179.90. The trade was a 38.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karl J. Jorgenrud sold 7,886 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the transaction, the insider directly owned 11,944 shares in the company, valued at $4,398,975.20. This trade represents a 39.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHW. Bank of America upped their price objective on shares of Sherwin-Williams from $369.00 to $383.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Barclays set a $329.00 target price on Sherwin-Williams and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Citigroup dropped their price target on Sherwin-Williams from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Guggenheim restated a “buy” rating and set a $375.00 price objective (down from $400.00) on shares of Sherwin-Williams in a report on Wednesday, October 28th. Finally, Wells Fargo & Company set a $340.00 price objective on shares of Sherwin-Williams and gave the company an “equal weight” rating in a research note on Friday, September 25th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.29.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $352.51 on Tuesday. The Sherwin-Williams Company has a 52 week low of $289.86 and a 52 week high of $377.77. The company’s 50 day moving average price is $329.52 and its two-hundred day moving average price is $333.12. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 2.00. The stock has a market cap of $85.16 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.51 and a beta of 1.08.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share for the quarter, missing analysts’ consensus estimates of $3.69 by ($0.06). The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.78 billion. Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. Sherwin-Williams’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.59 EPS. On average, equities analysts predict that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.20 annualized dividend and a yield of 0.9%. Sherwin-Williams’s payout ratio is currently 29.41%.

Sherwin-Williams Profile

The Sherwin-Williams Company (NYSE: SHW) develops, manufactures, distributes and sells paints, coatings and related products. Its offerings include architectural paints, industrial coatings, wood finishes, protective coatings, automotive refinishing products, floor coatings and related supplies marketed under brands such as Sherwin-Williams, Valspar, Minwax, Krylon and Dutch Boy.

Founded in 1866 and headquartered in Cleveland, Ohio, Sherwin-Williams serves professional contractors, do-it-yourself consumers, industrial manufacturers, commercial businesses and other customers.