Bank of New York Mellon Corp boosted its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 923,423 shares of the specialty chemicals company’s stock after buying an additional 49,470 shares during the period. Bank of New York Mellon Corp owned 1.00% of Sherwin-Williams worth $286,435,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of SHW. Massmutual Trust Co. FSB ADV bought a new stake in shares of Sherwin-Williams during the fourth quarter valued at about $104,000. Parallel Advisors LLC acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $113,000. SRS Capital Advisors Inc. acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $118,000. TLP Group LLC acquired a new position in Sherwin-Williams during the third quarter valued at approximately $120,000. Finally, Barometer Capital Management Inc. acquired a new position in Sherwin-Williams during the first quarter valued at approximately $124,000. Hedge funds and other institutional investors own 72.94% of the company’s stock.
Sherwin-Williams Co (NYSE:SHW) opened at 342.26 on Tuesday. The stock has a market capitalization of $31.68 billion, a PE ratio of 26.81 and a beta of 1.00. The stock’s 50 day moving average is $332.14 and its 200 day moving average is $303.47. Sherwin-Williams Co has a 12-month low of $239.48 and a 12-month high of $346.86.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, April 20th. The specialty chemicals company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.20. Sherwin-Williams had a return on equity of 82.20% and a net margin of 9.40%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter last year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts anticipate that Sherwin-Williams Co will post $14.20 EPS for the current fiscal year. The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Wednesday, May 17th. Sherwin-Williams’s dividend payout ratio is currently 28.50%.
Several research analysts have commented on the stock. Barclays PLC raised their price target on shares of Sherwin-Williams from $310.00 to $335.00 and gave the company an “equal weight” rating in a report on Monday, April 24th. Zacks Investment Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective on the stock in a research report on Tuesday, May 23rd. Jefferies Group LLC began coverage on shares of Sherwin-Williams in a research report on Friday, May 26th. They set a “hold” rating and a $364.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $375.00 target price (up previously from $335.00) on shares of Sherwin-Williams in a research report on Wednesday, May 17th. Finally, KeyCorp upgraded shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $342.52. In other news, SVP Catherine M. Kilbane sold 22,635 shares of Sherwin-Williams stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $324.47, for a total value of $7,344,378.45. Following the transaction, the senior vice president now directly owns 16,635 shares of the company’s stock, valued at approximately $5,397,558.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan J. Kropf sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $338.93, for a total value of $677,860.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,955 shares of company stock valued at $15,525,668. 1.89% of the stock is currently owned by company insiders.
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