Cetera Advisors LLC increased its position in The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,918 shares of the specialty chemicals company’s stock after buying an additional 494 shares during the quarter. Cetera Advisors LLC’s holdings in Sherwin-Williams were worth $1,549,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in SHW. Parnassus Investments LLC purchased a new position in shares of Sherwin-Williams in the first quarter worth $549,574,000. Clearbridge Investments LLC increased its position in Sherwin-Williams by 655.3% during the 2nd quarter. Clearbridge Investments LLC now owns 2,143,815 shares of the specialty chemicals company’s stock valued at $480,022,000 after purchasing an additional 1,859,981 shares during the period. Capital International Investors increased its position in Sherwin-Williams by 42.2% during the 1st quarter. Capital International Investors now owns 4,798,484 shares of the specialty chemicals company’s stock valued at $1,197,906,000 after purchasing an additional 1,422,893 shares during the period. Sustainable Growth Advisers LP purchased a new position in Sherwin-Williams during the 1st quarter valued at $277,399,000. Finally, Massachusetts Financial Services Co. MA increased its position in Sherwin-Williams by 6.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,651,975 shares of the specialty chemicals company’s stock valued at $2,159,706,000 after purchasing an additional 502,212 shares during the period. 77.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on SHW shares. Evercore ISI reduced their price objective on shares of Sherwin-Williams to $240.00 in a research report on Thursday, October 20th. The Goldman Sachs Group started coverage on shares of Sherwin-Williams in a report on Thursday, October 13th. They set a “buy” rating and a $280.00 target price on the stock. Credit Suisse Group dropped their target price on shares of Sherwin-Williams to $210.00 in a report on Thursday, October 27th. Citigroup dropped their target price on shares of Sherwin-Williams from $248.00 to $215.00 in a report on Tuesday, October 4th. Finally, KeyCorp dropped their target price on shares of Sherwin-Williams from $290.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average target price of $275.22.
Sherwin-Williams Price Performance
Sherwin-Williams (NYSE:SHW – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The specialty chemicals company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.63 by $0.20. Sherwin-Williams had a net margin of 8.94% and a return on equity of 90.50%. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.78 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, analysts predict that The Sherwin-Williams Company will post 8.71 EPS for the current year.
Sherwin-Williams Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, November 17th. Sherwin-Williams’s payout ratio is currently 32.48%.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through 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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