Northwestern Mutual Investment Management Company LLC lifted its position in Sherwin-Williams Co (NYSE:SHW) by 34.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,292 shares of the specialty chemicals company’s stock after buying an additional 1,100 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Sherwin-Williams were worth $1,972,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHW. Norges Bank bought a new stake in shares of Sherwin-Williams in the 4th quarter valued at $456,140,000. Vontobel Asset Management Inc. increased its position in shares of Sherwin-Williams by 291.4% in the 1st quarter. Vontobel Asset Management Inc. now owns 485,080 shares of the specialty chemicals company’s stock valued at $240,025,000 after buying an additional 361,140 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sherwin-Williams by 1,708.5% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 309,967 shares of the specialty chemicals company’s stock valued at $142,436,000 after buying an additional 292,828 shares in the last quarter. Bank of Montreal Can increased its position in shares of Sherwin-Williams by 380.0% in the 4th quarter. Bank of Montreal Can now owns 296,072 shares of the specialty chemicals company’s stock valued at $172,771,000 after buying an additional 234,396 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Sherwin-Williams by 155.2% in the 4th quarter. Prudential Financial Inc. now owns 343,047 shares of the specialty chemicals company’s stock valued at $200,182,000 after buying an additional 208,608 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.
In other Sherwin-Williams news, insider Aaron M. Erter sold 935 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $534.70, for a total transaction of $499,944.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jane M. Cronin sold 908 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $492.14, for a total transaction of $446,863.12. Following the sale, the senior vice president now owns 2,915 shares of the company’s stock, valued at $1,434,588.10. The disclosure for this sale can be found here. Insiders have sold 7,595 shares of company stock valued at $4,231,947 over the last 90 days. Company insiders own 0.55% of the company’s stock.
A number of analysts recently commented on SHW shares. Bank of America cut shares of Sherwin-Williams from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $610.00 to $500.00 in a research report on Friday, March 13th. Deutsche Bank increased their target price on Sherwin-Williams from $515.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Wells Fargo & Co upgraded Sherwin-Williams from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $600.00 to $550.00 in a report on Thursday, April 16th. Northcoast Research upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $620.00 target price for the company in a report on Monday, March 2nd. Finally, BMO Capital Markets increased their target price on Sherwin-Williams from $530.00 to $550.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $574.39.
Shares of NYSE:SHW opened at $577.30 on Friday. Sherwin-Williams Co has a 52-week low of $325.43 and a 52-week high of $599.95. The company has a market capitalization of $51.76 billion, a P/E ratio of 33.35, a price-to-earnings-growth ratio of 3.34 and a beta of 1.22. The company has a 50-day simple moving average of $512.13 and a 200 day simple moving average of $546.59. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.57 and a current ratio of 0.94.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Wednesday, April 29th. The specialty chemicals company reported $4.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.95 by $0.13. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.11 billion. Sherwin-Williams had a net margin of 8.98% and a return on equity of 53.04%. Sherwin-Williams’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. As a group, equities analysts forecast that Sherwin-Williams Co will post 19.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $5.36 annualized dividend and a yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 25.38%.
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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