M&T Bank Corp increased its position in shares of Sherwin-Williams Co (NYSE:SHW) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,291 shares of the specialty chemicals company’s stock after purchasing an additional 1,587 shares during the quarter. M&T Bank Corp owned approximately 0.06% of Sherwin-Williams worth $25,798,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in SHW. Thor Advisors LLC purchased a new position in Sherwin-Williams in the first quarter valued at about $25,000. Tortoise Investment Management LLC raised its position in shares of Sherwin-Williams by 235.3% in the second quarter. Tortoise Investment Management LLC now owns 57 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Hexavest Inc. bought a new stake in shares of Sherwin-Williams in the second quarter valued at approximately $27,000. Next Capital Management LLC bought a new stake in shares of Sherwin-Williams in the second quarter valued at approximately $27,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Sherwin-Williams in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.76% of the company’s stock.
In other news, Director Susan J. Kropf sold 1,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $478.11, for a total value of $478,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David F. Hodnik sold 501 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 9,569 shares of the company’s stock, valued at approximately $4,990,903.33. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock valued at $15,329,391 in the last ninety days. 0.50% of the stock is owned by corporate insiders.
SHW has been the topic of several research reports. BMO Capital Markets boosted their price target on shares of Sherwin-Williams from $517.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday. Northcoast Research reissued a “neutral” rating on shares of Sherwin-Williams in a research report on Monday, July 29th. Credit Suisse Group boosted their price target on shares of Sherwin-Williams from $487.00 to $525.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays boosted their price target on shares of Sherwin-Williams from $470.00 to $505.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird set a $600.00 price target on shares of Sherwin-Williams and gave the company a “buy” rating in a research report on Wednesday, August 21st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Sherwin-Williams currently has a consensus rating of “Buy” and a consensus price target of $524.31.
Sherwin-Williams stock traded up $4.98 during midday trading on Wednesday, reaching $532.16. 12,252 shares of the stock were exchanged, compared to its average volume of 439,422. The company’s fifty day moving average is $508.63 and its 200-day moving average is $460.78. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.50 and a current ratio of 0.80. The firm has a market cap of $48.60 billion, a PE ratio of 28.68, a PEG ratio of 2.07 and a beta of 1.26. Sherwin-Williams Co has a 52 week low of $355.28 and a 52 week high of $536.74.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.35 by $0.22. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the prior year, the firm posted $5.73 EPS. Sherwin-Williams’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Sherwin-Williams Co will post 21.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.85%. Sherwin-Williams’s dividend payout ratio (DPR) is 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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