Traders Buy Sherwin-Williams (SHW) on Weakness

Traders purchased shares of Sherwin-Williams Co (NYSE:SHW) on weakness during trading hours on Monday. $115.61 million flowed into the stock on the tick-up and $81.30 million flowed out of the stock on the tick-down, for a money net flow of $34.31 million into the stock. Of all equities tracked, Sherwin-Williams had the 29th highest net in-flow for the day. Sherwin-Williams traded down ($0.54) for the day and closed at $451.89

SHW has been the topic of a number of recent research reports. KeyCorp increased their price objective on Sherwin-Williams from $450.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, February 22nd. Citigroup raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Friday, January 4th. BMO Capital Markets set a $444.00 price objective on Sherwin-Williams and gave the stock a “hold” rating in a report on Wednesday, January 23rd. Robert W. Baird reissued an “outperform” rating and set a $480.00 price objective (up previously from $450.00) on shares of Sherwin-Williams in a report on Friday, February 1st. Finally, JPMorgan Chase & Co. cut Sherwin-Williams from an “overweight” rating to a “neutral” rating and set a $435.00 price objective on the stock. in a report on Friday, March 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $477.81.

The firm has a market cap of $42.52 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.01 and a quick ratio of 0.59.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $3.60 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.03). Sherwin-Williams had a net margin of 6.32% and a return on equity of 46.48%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the business earned $3.57 EPS. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that Sherwin-Williams Co will post 21.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $1.13 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.52 annualized dividend and a dividend yield of 0.99%. Sherwin-Williams’s payout ratio is currently 24.39%.

In related news, SVP Jane M. Cronin sold 1,344 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $441.24, for a total transaction of $593,026.56. Following the transaction, the senior vice president now directly owns 4,078 shares of the company’s stock, valued at approximately $1,799,376.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joel D. Baxter sold 7,621 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $439.15, for a total value of $3,346,762.15. Following the transaction, the insider now directly owns 10,308 shares in the company, valued at $4,526,758.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,839 shares of company stock worth $5,186,817. Insiders own 0.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SHW. Norges Bank purchased a new position in shares of Sherwin-Williams during the 4th quarter valued at about $297,669,000. American Century Companies Inc. raised its holdings in shares of Sherwin-Williams by 49.8% during the 4th quarter. American Century Companies Inc. now owns 683,947 shares of the specialty chemicals company’s stock valued at $269,106,000 after buying an additional 227,363 shares in the last quarter. Marsico Capital Management LLC raised its holdings in shares of Sherwin-Williams by 129.9% during the 4th quarter. Marsico Capital Management LLC now owns 374,029 shares of the specialty chemicals company’s stock valued at $147,165,000 after buying an additional 211,318 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Sherwin-Williams by 76.4% during the 4th quarter. Millennium Management LLC now owns 476,111 shares of the specialty chemicals company’s stock valued at $187,331,000 after buying an additional 206,266 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Sherwin-Williams during the 3rd quarter valued at about $77,927,000. 77.70% of the stock is currently owned by institutional investors.

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Sherwin-Williams Company Profile (NYSE:SHW)

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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