Foxhaven Asset Management LP Has $162.30 Million Position in The Sherwin-Williams Company (NYSE:SHW)

Foxhaven Asset Management LP trimmed its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,453 shares of the specialty chemicals company’s stock after selling 91,629 shares during the quarter. Sherwin-Williams makes up about 4.4% of Foxhaven Asset Management LP’s portfolio, making the stock its 12th largest holding. Foxhaven Asset Management LP owned about 0.19% of Sherwin-Williams worth $162,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHW. Norges Bank bought a new position in Sherwin-Williams in the 4th quarter valued at approximately $1,359,747,000. Capital Research Global Investors lifted its holdings in shares of Sherwin-Williams by 47.1% during the fourth quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company’s stock worth $1,019,329,000 after purchasing an additional 960,724 shares during the period. Barclays PLC lifted its holdings in shares of Sherwin-Williams by 54.2% during the fourth quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company’s stock worth $704,855,000 after purchasing an additional 728,798 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Sherwin-Williams in the fourth quarter worth $230,829,000. Finally, Northern Trust Corp increased its holdings in Sherwin-Williams by 28.0% in the fourth quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company’s stock valued at $926,590,000 after purchasing an additional 595,586 shares during the period. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Colin M. Davie sold 2,799 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares in the company, valued at $1,933,009.50. This represents a 34.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on SHW shares. UBS Group reduced their price target on Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada increased their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Wells Fargo & Company upgraded shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $350.00 to $420.00 in a research report on Wednesday, April 30th. Mizuho set a $395.00 price objective on shares of Sherwin-Williams in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $397.00.

Sherwin-Williams Stock Performance

NYSE SHW opened at $351.84 on Friday. The company has a market cap of $88.17 billion, a P/E ratio of 33.35, a PEG ratio of 2.98 and a beta of 1.25. The company has a fifty day simple moving average of $341.81 and a 200 day simple moving average of $355.36. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the company earned $2.17 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $3.16 annualized dividend and a dividend yield of 0.90%. Sherwin-Williams’s payout ratio is 29.87%.

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.