Moors & Cabot Inc. lifted its position in shares of Sherwin-Williams Co (NYSE:SHW) by 100.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,570 shares of the specialty chemicals company’s stock after buying an additional 3,285 shares during the quarter. Moors & Cabot Inc.’s holdings in Sherwin-Williams were worth $2,826,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investors Research Corp purchased a new stake in Sherwin-Williams in the first quarter valued at approximately $25,000. Berman Capital Advisors LLC purchased a new stake in Sherwin-Williams in the fourth quarter valued at approximately $28,000. Karp Capital Management Corp purchased a new stake in Sherwin-Williams in the fourth quarter valued at approximately $33,000. CMH Wealth Management LLC purchased a new stake in Sherwin-Williams in the fourth quarter valued at approximately $35,000. Finally, JNBA Financial Advisors purchased a new stake in Sherwin-Williams in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 77.70% of the company’s stock.
SHW has been the subject of a number of recent analyst reports. KeyCorp boosted their target price on shares of Sherwin-Williams from $450.00 to $485.00 and gave the company an “overweight” rating in a report on Friday, February 22nd. Robert W. Baird boosted their target price on shares of Sherwin-Williams from $480.00 to $525.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Barclays boosted their target price on shares of Sherwin-Williams from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. BMO Capital Markets set a $444.00 target price on shares of Sherwin-Williams and gave the company a “hold” rating in a report on Wednesday, January 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Sherwin-Williams from an “overweight” rating to a “neutral” rating and set a $435.00 target price for the company. in a report on Friday, March 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $480.05.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.03). The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.09 billion. Sherwin-Williams had a net margin of 6.27% and a return on equity of 47.09%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $3.57 earnings per share. As a group, equities research analysts anticipate that Sherwin-Williams Co will post 21.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $1.13 per share. The ex-dividend date is Thursday, May 16th. This represents a $4.52 dividend on an annualized basis and a yield of 0.99%. Sherwin-Williams’s dividend payout ratio (DPR) is 24.39%.
In other Sherwin-Williams news, SVP Allen J. Mistysyn sold 2,874 shares of Sherwin-Williams stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $433.90, for a total transaction of $1,247,028.60. Following the transaction, the senior vice president now directly owns 10,599 shares of the company’s stock, valued at $4,598,906.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jane M. Cronin sold 1,344 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $441.24, for a total transaction of $593,026.56. Following the transaction, the senior vice president now directly owns 4,078 shares in the company, valued at $1,799,376.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,839 shares of company stock worth $5,186,817. 0.50% of the stock is currently owned by corporate insiders.
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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