Eastern Bank Invests $422,000 in The Sherwin-Williams Company (NYSE:SHW)

Eastern Bank purchased a new stake in The Sherwin-Williams Company (NYSE:SHW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,105 shares of the specialty chemicals company’s stock, valued at approximately $422,000.

A number of other institutional investors have also recently modified their holdings of SHW. Vanguard Group Inc. grew its stake in shares of Sherwin-Williams by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after purchasing an additional 184,979 shares during the period. Capital International Investors grew its position in Sherwin-Williams by 10.5% during the first quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock worth $799,595,000 after buying an additional 219,149 shares during the period. Legal & General Group Plc increased its holdings in Sherwin-Williams by 2.9% in the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after buying an additional 53,487 shares in the last quarter. PineStone Asset Management Inc. lifted its position in shares of Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after acquiring an additional 917,979 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Sherwin-Williams by 18.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock worth $454,917,000 after acquiring an additional 238,031 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Trading Up 0.4 %

Shares of SHW stock opened at $362.72 on Thursday. The firm’s 50-day simple moving average is $371.81 and its 200-day simple moving average is $334.64. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $392.57. The firm has a market cap of $91.50 billion, a P/E ratio of 36.97, a PEG ratio of 3.04 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the business earned $3.20 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts forecast that The Sherwin-Williams Company will post 11.49 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 29.15%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHW. JPMorgan Chase & Co. lifted their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird boosted their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $418.00 target price on shares of Sherwin-Williams in a report on Friday, August 30th. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.71.

Sherwin-Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.