Los Angeles Capital Management & Equity Research Inc. grew its stake in Sherwin-Williams Co (NYSE:SHW) by 2,161.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,416 shares of the specialty chemicals company’s stock after purchasing an additional 15,690 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Sherwin-Williams were worth $7,473,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. EdgePoint Investment Group Inc. purchased a new stake in shares of Sherwin-Williams during the second quarter valued at approximately $287,828,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Sherwin-Williams during the third quarter valued at approximately $1,564,000. American Century Companies Inc. increased its position in shares of Sherwin-Williams by 6,366.3% during the second quarter. American Century Companies Inc. now owns 359,008 shares of the specialty chemicals company’s stock valued at $146,321,000 after acquiring an additional 353,456 shares during the last quarter. Millennium Management LLC increased its position in shares of Sherwin-Williams by 67.9% during the second quarter. Millennium Management LLC now owns 486,179 shares of the specialty chemicals company’s stock valued at $198,152,000 after acquiring an additional 196,610 shares during the last quarter. Finally, Fred Alger Management Inc. increased its position in shares of Sherwin-Williams by 50.0% during the second quarter. Fred Alger Management Inc. now owns 517,532 shares of the specialty chemicals company’s stock valued at $210,931,000 after acquiring an additional 172,528 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.
A number of analysts recently commented on the company. Argus set a $480.00 price target on Sherwin-Williams and gave the company a “buy” rating in a research report on Monday, October 29th. Buckingham Research decreased their price target on Sherwin-Williams from $425.00 to $410.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Credit Suisse Group decreased their price target on Sherwin-Williams from $500.00 to $467.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Barclays decreased their price target on Sherwin-Williams from $450.00 to $425.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. Finally, Zacks Investment Research downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Ten investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $467.40.
Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, October 25th. The specialty chemicals company reported $5.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.71 by ($0.03). The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Sherwin-Williams had a return on equity of 45.22% and a net margin of 10.92%. On average, equities research analysts predict that Sherwin-Williams Co will post 19.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 24.11%.
In related news, Director John M. Stropki acquired 675 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were purchased at an average price of $375.00 per share, for a total transaction of $253,125.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas P. Gilligan sold 5,080 shares of Sherwin-Williams stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $458.04, for a total value of $2,326,843.20. Following the completion of the transaction, the senior vice president now owns 7,043 shares in the company, valued at approximately $3,225,975.72. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
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The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.
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