Baird Financial Group Inc. reduced its position in shares of The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,140 shares of the specialty chemicals company’s stock after selling 841 shares during the period. Baird Financial Group Inc. owned approximately 0.08% of Sherwin-Williams worth $44,255,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. acquired a new position in Sherwin-Williams during the third quarter valued at approximately $25,000. Standard Family Office LLC bought a new stake in shares of Sherwin-Williams during the third quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Sherwin-Williams during the third quarter worth $40,000. CoreCap Advisors LLC bought a new stake in shares of Sherwin-Williams during the second quarter worth $69,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Sherwin-Williams during the third quarter worth $81,000. 76.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, SVP Bryan J. Young sold 2,750 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $220.76, for a total value of $607,090.00. Following the sale, the senior vice president now owns 7,955 shares in the company, valued at approximately $1,756,145.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Bryan J. Young sold 2,750 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $220.76, for a total value of $607,090.00. Following the sale, the senior vice president now owns 7,955 shares in the company, valued at approximately $1,756,145.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John G. Morikis acquired 2,207 shares of Sherwin-Williams stock in a transaction on Friday, January 27th. The stock was purchased at an average cost of $226.70 per share, with a total value of $500,326.90. Following the completion of the transaction, the chief executive officer now directly owns 231,344 shares in the company, valued at approximately $52,445,684.80. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.
Sherwin-Williams Price Performance
Sherwin-Williams (NYSE:SHW – Get Rating) last released its earnings results on Thursday, January 26th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.05. Sherwin-Williams had a net margin of 9.12% and a return on equity of 90.04%. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. Sherwin-Williams’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts expect that The Sherwin-Williams Company will post 8.71 earnings per share for the current year.
Sherwin-Williams Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Monday, February 27th were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, February 24th. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.60. Sherwin-Williams’s dividend payout ratio is currently 31.35%.
Analysts Set New Price Targets
A number of analysts have weighed in on SHW shares. JPMorgan Chase & Co. decreased their target price on shares of Sherwin-Williams from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, January 27th. Mizuho decreased their target price on shares of Sherwin-Williams from $267.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, January 27th. Zelman & Associates cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Friday, January 27th. Loop Capital decreased their target price on shares of Sherwin-Williams from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, January 27th. Finally, UBS Group boosted their price objective on shares of Sherwin-Williams from $242.00 to $255.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.39.
About Sherwin-Williams
The Sherwin-Williams Co engages in the development, manufacture, distribution, and sale of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor coverings.
Read More
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