Mirae Asset Global Investments Co. Ltd. Has $26.45 Million Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Mirae Asset Global Investments Co. Ltd. grew its holdings in The Sherwin-Williams Company (NYSE:SHW) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,156 shares of the specialty chemicals company’s stock after buying an additional 12,618 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sherwin-Williams were worth $26,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First United Bank & Trust acquired a new stake in shares of Sherwin-Williams in the fourth quarter valued at $31,000. Tortoise Investment Management LLC increased its position in Sherwin-Williams by 158.5% in the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in Sherwin-Williams in the fourth quarter worth about $35,000. Wetzel Investment Advisors Inc. acquired a new stake in Sherwin-Williams in the fourth quarter worth about $36,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Sherwin-Williams in the first quarter worth about $47,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Stock Down 0.5 %

Shares of NYSE:SHW traded down $1.52 during trading on Friday, hitting $295.70. 1,098,019 shares of the company were exchanged, compared to its average volume of 1,652,406. The stock has a market cap of $74.97 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 2.39 and a beta of 1.16. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $348.37. The firm has a fifty day moving average price of $304.16 and a two-hundred day moving average price of $313.01. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 earnings per share. As a group, research analysts anticipate that The Sherwin-Williams Company will post 11.43 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a dividend of $0.715 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.97%. Sherwin-Williams’s payout ratio is 30.49%.

Analyst Ratings Changes

A number of brokerages recently commented on SHW. KeyCorp upgraded Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price objective for the company in a research report on Thursday, April 25th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Loop Capital reduced their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Robert W. Baird raised their target price on Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada reduced their target price on Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $343.41.

Sherwin-Williams Company Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.