New Mexico Educational Retirement Board grew its stake in The Sherwin-Williams Company (NYSE:SHW) by 215.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,163 shares of the specialty chemicals company’s stock after purchasing an additional 11,042 shares during the period. New Mexico Educational Retirement Board’s holdings in The Sherwin-Williams were worth $4,404,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. tru Independence LLC increased its position in shares of The Sherwin-Williams by 5.0% in the fourth quarter. tru Independence LLC now owns 481 shares of the specialty chemicals company’s stock worth $354,000 after purchasing an additional 23 shares during the last quarter. Ballentine Partners LLC increased its position in shares of The Sherwin-Williams by 11.4% in the first quarter. Ballentine Partners LLC now owns 342 shares of the specialty chemicals company’s stock worth $252,000 after purchasing an additional 35 shares during the last quarter. Prospera Financial Services Inc increased its position in shares of The Sherwin-Williams by 2.5% in the first quarter. Prospera Financial Services Inc now owns 1,491 shares of the specialty chemicals company’s stock worth $1,101,000 after purchasing an additional 37 shares during the last quarter. First Foundation Advisors increased its position in shares of The Sherwin-Williams by 7.9% in the first quarter. First Foundation Advisors now owns 506 shares of the specialty chemicals company’s stock worth $373,000 after purchasing an additional 37 shares during the last quarter. Finally, OneAscent Financial Services LLC boosted its stake in The Sherwin-Williams by 9.6% in the first quarter. OneAscent Financial Services LLC now owns 435 shares of the specialty chemicals company’s stock worth $321,000 after buying an additional 38 shares in the last quarter. Institutional investors own 27.44% of the company’s stock.
In other news, CFO Allen J. Mistysyn sold 22,749 shares of The Sherwin-Williams stock in a transaction dated Wednesday, July 28th. The stock was 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 directly owns 41,099 shares of the company’s stock, valued at approximately $11,773,219.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin T. Binns sold 1,744 shares of The Sherwin-Williams stock in a transaction dated Thursday, June 10th. The shares were sold at an average price of $277.51, for a total value of $483,977.44. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
SHW opened at $291.03 on Monday. The Sherwin-Williams Company has a 12-month low of $213.42 and a 12-month high of $293.05. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.55 and a current ratio of 0.84. The business has a fifty day moving average price of $278.79. The company has a market capitalization of $76.63 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 2.47 and a beta of 1.08.
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 for the quarter, missing the consensus estimate of $2.68 by ($0.03). The Sherwin-Williams had a net margin of 11.05% and a return on equity of 72.71%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the business earned $7.10 earnings per share. The Sherwin-Williams’s revenue was up 16.9% compared to the same quarter last year. On average, sell-side analysts predict that The Sherwin-Williams Company will post 9.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Friday, August 20th will be given a $0.55 dividend. The ex-dividend date is Thursday, August 19th. This represents a $2.20 annualized dividend and a yield of 0.76%. The Sherwin-Williams’s payout ratio is 26.86%.
A number of analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on The Sherwin-Williams from $324.00 to $327.00 and gave the company an “outperform” rating in a research note on Wednesday, June 9th. Jefferies Financial Group reissued a “hold” rating and set a $800.00 price objective on shares of The Sherwin-Williams in a research note on Sunday, April 4th. Wells Fargo & Company increased their price objective on The Sherwin-Williams from $317.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Robert W. Baird reissued a “buy” rating and set a $325.00 price objective on shares of The Sherwin-Williams in a research note on Wednesday, July 28th. Finally, Zacks Investment Research upgraded The Sherwin-Williams from a “hold” rating to a “buy” rating and set a $297.00 target price for the company in a report on Friday, June 4th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The Sherwin-Williams presently has an average rating of “Buy” and a consensus target price of $325.86.
About The Sherwin-Williams
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.
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