Sherwin-Williams Co (SHW) Stake Increased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lifted its position in shares of Sherwin-Williams Co (NYSE:SHW) by 30.2% in the first quarter, HoldingsChannel.com reports. The fund owned 2,699 shares of the specialty chemicals company’s stock after buying an additional 626 shares during the period. HighPoint Advisor Group LLC’s holdings in Sherwin-Williams were worth $1,206,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SHW. Norges Bank bought a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $297,669,000. American Century Companies Inc. lifted 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 worth $269,106,000 after acquiring an additional 227,363 shares during the period. Marsico Capital Management LLC lifted 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 worth $147,165,000 after acquiring an additional 211,318 shares during the period. Millennium Management LLC lifted 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 worth $187,331,000 after acquiring an additional 206,266 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Sherwin-Williams by 29.7% during the 4th quarter. Mackenzie Financial Corp now owns 571,420 shares of the specialty chemicals company’s stock worth $224,831,000 after acquiring an additional 130,737 shares during the period. 77.56% of the stock is owned by institutional investors.

Shares of NYSE SHW opened at $431.92 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 2.52. Sherwin-Williams Co has a 52-week low of $355.28 and a 52-week high of $479.64. The company has a market capitalization of $40.22 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $3.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.63 by ($0.03). Sherwin-Williams had a net margin of 6.27% and a return on equity of 47.09%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the company posted $3.57 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that Sherwin-Williams Co will post 21.01 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 given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 24.39%.

In other Sherwin-Williams news, insider Joel D. Baxter sold 7,621 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 10,308 shares in the company, valued at approximately $4,526,758.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert F. Lynch sold 6,984 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $430.54, for a total transaction of $3,006,891.36. Following the completion of the transaction, the insider now owns 13,855 shares of the company’s stock, valued at $5,965,131.70. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

SHW has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Sherwin-Williams from $448.00 to $460.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Wells Fargo & Co upped their price objective on shares of Sherwin-Williams from $475.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Wolfe Research cut shares of Sherwin-Williams from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 25th. Deutsche Bank upped their price objective on shares of Sherwin-Williams from $460.00 to $490.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research cut shares of Sherwin-Williams from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $480.05.

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About Sherwin-Williams

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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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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