Suncoast Equity Management Grows Stock Holdings in Sherwin-Williams Co (NYSE:SHW)

Suncoast Equity Management grew its holdings in shares of Sherwin-Williams Co (NYSE:SHW) by 41.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 712 shares of the specialty chemicals company’s stock after purchasing an additional 209 shares during the period. Suncoast Equity Management’s holdings in Sherwin-Williams were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Griffin Asset Management Inc. grew its stake in Sherwin-Williams by 3.8% during the first quarter. Griffin Asset Management Inc. now owns 633 shares of the specialty chemicals company’s stock worth $273,000 after buying an additional 23 shares during the period. Gilman Hill Asset Management LLC lifted its position in shares of Sherwin-Williams by 1.5% during the first quarter. Gilman Hill Asset Management LLC now owns 1,819 shares of the specialty chemicals company’s stock worth $783,000 after purchasing an additional 26 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Sherwin-Williams by 4.2% during the second quarter. Carroll Financial Associates Inc. now owns 675 shares of the specialty chemicals company’s stock worth $309,000 after purchasing an additional 27 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Sherwin-Williams by 24.1% during the second quarter. Contravisory Investment Management Inc. now owns 139 shares of the specialty chemicals company’s stock worth $64,000 after purchasing an additional 27 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in shares of Sherwin-Williams by 11.2% during the first quarter. Cornerstone Advisors Inc. now owns 277 shares of the specialty chemicals company’s stock worth $119,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.

A number of research firms have recently commented on SHW. Buckingham Research boosted 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. Deutsche Bank boosted their target price on shares of Sherwin-Williams from $490.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets boosted their target price on shares of Sherwin-Williams to $517.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Wolfe Research cut shares of Sherwin-Williams from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 25th. Finally, UBS Group boosted their target price 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. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $513.37.

In other Sherwin-Williams news, insider Robert F. Lynch sold 6,984 shares of the stock in a transaction 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 sale, the insider now directly owns 13,855 shares of the company’s stock, valued at $5,965,131.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan J. Kropf sold 1,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $478.11, for a total transaction of $478,110.00. The disclosure for this sale can be found here. Insiders sold 38,592 shares of company stock worth $18,336,282 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

SHW traded up $12.32 during trading on Wednesday, hitting $511.19. The company had a trading volume of 375,062 shares, compared to its average volume of 613,794. The company has a market cap of $45.93 billion, a P/E ratio of 27.59, a PEG ratio of 2.00 and a beta of 1.28. The stock has a 50-day moving average of $476.21. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 2.29. Sherwin-Williams Co has a 1-year low of $355.28 and a 1-year high of $523.26.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.22. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.73 earnings per share. Sell-side analysts predict that Sherwin-Williams Co will post 21.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a $1.13 dividend. The ex-dividend date is Thursday, August 15th. This represents a $4.52 annualized dividend and a yield of 0.88%. Sherwin-Williams’s dividend payout ratio is presently 24.39%.

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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