Bank of New York Mellon Corp Has $262,198,000 Stake in Sherwin-Williams Co. (SHW)
Bank of New York Mellon Corp increased its stake in Sherwin-Williams Co. (NYSE:SHW) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 947,727 shares of the company’s stock after buying an additional 2,018 shares during the period. Bank of New York Mellon Corp’s holdings in Sherwin-Williams were worth $262,198,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Lone Pine Capital LLC acquired a new position in Sherwin-Williams during the second quarter worth $335,861,000. Third Point LLC acquired a new position in Sherwin-Williams during the second quarter worth $205,569,000. Ameriprise Financial Inc. increased its position in Sherwin-Williams by 50.1% in the second quarter. Ameriprise Financial Inc. now owns 1,768,167 shares of the company’s stock worth $519,233,000 after buying an additional 590,350 shares during the period. Capital World Investors acquired a new position in Sherwin-Williams during the second quarter worth $120,440,000. Finally, Meritage Group LP acquired a new position in Sherwin-Williams during the second quarter worth $102,270,000. 72.93% of the stock is owned by institutional investors.
Shares of Sherwin-Williams Co. (NYSE:SHW) opened at 276.32 on Wednesday. The firm has a 50-day moving average of $261.26 and a 200 day moving average of $282.71. Sherwin-Williams Co. has a 52 week low of $234.96 and a 52 week high of $312.48. The firm has a market cap of $25.42 billion, a PE ratio of 23.06 and a beta of 0.98.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 25th. The company reported $4.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.32 by $0.09. Sherwin-Williams had a return on equity of 97.87% and a net margin of 9.50%. The firm earned $3.28 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the previous year, the company earned $3.97 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that Sherwin-Williams Co. will post $12.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.84 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $3.36 annualized dividend and a dividend yield of 1.22%. Sherwin-Williams’s payout ratio is 28.57%.
A number of research analysts recently weighed in on SHW shares. Wells Fargo & Co. started coverage on shares of Sherwin-Williams in a research report on Wednesday, September 28th. They issued a “market perform” rating for the company. Zacks Investment Research cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Vetr upgraded shares of Sherwin-Williams from a “buy” rating to a “strong-buy” rating and set a $292.87 price target for the company in a research note on Monday, November 21st. Atlantic Securities initiated coverage on shares of Sherwin-Williams in a research note on Tuesday. They issued an “overweight” rating and a $325.00 price target for the company. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $335.00 price target on shares of Sherwin-Williams in a research note on Saturday, August 13th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Sherwin-Williams presently has a consensus rating of “Buy” and a consensus price target of $322.72.
In other news, Director John M. Stropki bought 500 shares of Sherwin-Williams stock in a transaction dated Thursday, October 27th. The stock was purchased at an average price of $247.30 per share, for a total transaction of $123,650.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.89% of the stock is currently owned by insiders.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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