Cubist Systematic Strategies LLC boosted its holdings in Sherwin-Williams Co (NYSE:SHW) by 850.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,726 shares of the specialty chemicals company’s stock after acquiring an additional 39,127 shares during the quarter. Sherwin-Williams accounts for about 0.4% of Cubist Systematic Strategies LLC’s investment portfolio, making the stock its 26th biggest position. Cubist Systematic Strategies LLC’s holdings in Sherwin-Williams were worth $20,039,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. OZ Management LP boosted its position in Sherwin-Williams by 98.2% in the first quarter. OZ Management LP now owns 595,512 shares of the specialty chemicals company’s stock valued at $256,493,000 after buying an additional 294,988 shares in the last quarter. Meritage Group LP lifted its position in shares of Sherwin-Williams by 11.7% during the first quarter. Meritage Group LP now owns 985,589 shares of the specialty chemicals company’s stock worth $424,503,000 after purchasing an additional 103,486 shares in the last quarter. BlackRock Inc. lifted its position in shares of Sherwin-Williams by 1.7% during the second quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock worth $2,534,464,000 after purchasing an additional 90,828 shares in the last quarter. Marshall Wace North America L.P. lifted its position in shares of Sherwin-Williams by 93.8% during the first quarter. Marshall Wace North America L.P. now owns 174,765 shares of the specialty chemicals company’s stock worth $75,274,000 after purchasing an additional 84,610 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its position in shares of Sherwin-Williams by 21.2% during the second quarter. Farallon Capital Management LLC now owns 465,699 shares of the specialty chemicals company’s stock worth $213,425,000 after purchasing an additional 81,536 shares in the last quarter. 76.68% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the stock. Wells Fargo & Co upped their target price on shares of Sherwin-Williams from $510.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley set a $600.00 target price on shares of Sherwin-Williams and gave the stock a “buy” rating in a research report on Monday, August 12th. Northcoast Research reiterated a “neutral” rating on shares of Sherwin-Williams in a research report on Monday, July 29th. Buckingham Research upped their target price on shares of Sherwin-Williams from $440.00 to $460.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, ValuEngine upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $525.40.
In related news, insider Peter J. Ippolito sold 5,284 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $513.05, for a total transaction of $2,710,956.20. Following the sale, the insider now directly owns 4,284 shares of the company’s stock, valued at approximately $2,197,906.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David F. Hodnik sold 501 shares of Sherwin-Williams stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.57, for a total transaction of $261,306.57. Following the sale, the director now directly owns 9,569 shares in the company, valued at $4,990,903.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,121 shares of company stock valued at $6,134,153. 0.50% of the stock is currently owned by corporate insiders.
NYSE SHW traded up $2.73 during trading hours on Friday, hitting $552.51. The company’s stock had a trading volume of 4,020 shares, compared to its average volume of 400,296. The stock has a fifty day moving average of $523.72 and a 200 day moving average of $468.01. Sherwin-Williams Co has a twelve month low of $355.28 and a twelve month high of $550.73. The firm has a market capitalization of $49.59 billion, a P/E ratio of 29.76, a PEG ratio of 2.11 and a beta of 1.26. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.35 by $0.22. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.73 earnings per share. On average, analysts predict that Sherwin-Williams Co will post 21.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Thursday, August 15th. Sherwin-Williams’s dividend payout ratio is presently 24.39%.
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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