3,115 The Sherwin-Williams Company $SHW Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 8.2% during the third quarter, HoldingsChannel reports. The fund owned 40,954 shares of the specialty chemicals company’s stock after acquiring an additional 3,115 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Sherwin-Williams were worth $13,533,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Sherwin-Williams in the second quarter worth about $6,100,083,000. Wellington Management Group LLP boosted its holdings in Sherwin-Williams by 133.7% in the second quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company’s stock worth $958,821,000 after purchasing an additional 1,593,009 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Sherwin-Williams during the second quarter worth $547,097,000. Legal & General Group Plc acquired a new position in shares of Sherwin-Williams in the 2nd quarter valued at about $459,652,000. Finally, Bank of America Corp DE acquired a new stake in Sherwin-Williams during the second quarter worth about $412,339,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHW has been the topic of several recent research reports. KeyCorp initiated coverage on Sherwin-Williams in a report on Thursday, September 10th. They issued a “sector weight” rating on the stock. UBS Group restated a “neutral” rating and issued a $370.00 price target (up from $363.00) on shares of Sherwin-Williams in a research note on Wednesday, October 28th. Bank of America increased their price objective on Sherwin-Williams from $369.00 to $383.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Morgan Stanley restated an “overweight” rating and set a $395.00 price objective (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Finally, Argus boosted their price target on shares of Sherwin-Williams from $355.00 to $380.00 in a research report on Thursday, August 27th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.29.

Sherwin-Williams Price Performance

SHW opened at $363.70 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 2.00. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $377.77. The stock has a fifty day moving average price of $329.67 and a 200 day moving average price of $333.09. The stock has a market cap of $87.87 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 2.84 and a beta of 1.05.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 EPS for the quarter, missing the consensus estimate of $3.69 by ($0.06). Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.78 billion. During the same quarter last year, the company earned $3.59 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts forecast that The Sherwin-Williams Company will post 12.02 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared 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. This represents a $3.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.41%.

Insider Activity

In related news, insider Karl J. Jorgenrud sold 7,886 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $368.30, for a total value of $2,904,413.80. Following the sale, the insider owned 11,944 shares of the company’s stock, valued at $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mary L. Garceau sold 3,891 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $350.42, for a total transaction of $1,363,484.22. Following the completion of the sale, the senior vice president directly owned 31,466 shares in the company, valued at approximately $11,026,315.72. The trade was a 11.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 25,277 shares of company stock valued at $9,029,348. Insiders own 0.23% of the company’s stock.

Sherwin-Williams Company 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.