Sherwin-Williams Co. (SHW) Position Cut by Eagle Asset Management Inc.
Eagle Asset Management Inc. lowered its stake in shares of Sherwin-Williams Co. (NYSE:SHW) by 10.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,463 shares of the company’s stock after selling 7,823 shares during the period. Eagle Asset Management Inc.’s holdings in Sherwin-Williams were worth $18,110,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Sherwin-Williams by 1.7% in the second quarter. Vanguard Group Inc. now owns 5,615,932 shares of the company’s stock valued at $1,649,230,000 after buying an additional 92,058 shares in the last quarter. FMR LLC raised its stake in shares of Sherwin-Williams by 0.9% in the second quarter. FMR LLC now owns 4,727,416 shares of the company’s stock worth $1,388,300,000 after buying an additional 44,207 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Sherwin-Williams by 12.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,650,607 shares of the company’s stock worth $778,404,000 after buying an additional 296,200 shares during the period. Ameriprise Financial Inc. raised its stake in shares of 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. Finally, Lone Pine Capital LLC purchased a new stake in shares of Sherwin-Williams during the second quarter worth about $335,861,000. 72.93% of the stock is currently owned by institutional investors.
Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 1.14% on Tuesday, reaching $277.15. 250,041 shares of the company’s stock traded hands. The company has a market cap of $25.50 billion, a PE ratio of 23.12 and a beta of 0.98. Sherwin-Williams Co. has a 12-month low of $234.96 and a 12-month high of $312.48. The stock has a 50-day moving average price of $261.26 and a 200-day moving average price of $282.71.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $4.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.32 by $0.09. Sherwin-Williams had a net margin of 9.50% and a return on equity of 97.87%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the firm earned $3.97 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Sherwin-Williams Co. will post $12.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, November 16th. Sherwin-Williams’s payout ratio is presently 28.57%.
A number of equities research analysts have issued reports on SHW shares. Wells Fargo & Co. started coverage on shares of Sherwin-Williams in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Evercore ISI raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target on the stock in a report on Monday, September 26th. Argus raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday, October 10th. Finally, Vetr raised shares of Sherwin-Williams from a “buy” rating to a “strong-buy” rating and set a $292.87 price target on the stock in a report on Monday, November 21st. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $322.56.
In related news, Director John M. Stropki purchased 500 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were purchased at an average cost of $247.30 per share, for a total transaction of $123,650.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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