Jupiter Asset Management Ltd. Acquires 805 Shares of The Sherwin-Williams Company (NYSE:SHW)

Jupiter Asset Management Ltd. boosted its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,754 shares of the specialty chemicals company’s stock after purchasing an additional 805 shares during the period. Jupiter Asset Management Ltd. owned about 0.06% of Sherwin-Williams worth $43,497,000 at the end of the most recent quarter.

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 Sherwin-Williams during the fourth quarter worth $1,176,356,000. Capital World Investors lifted its stake in Sherwin-Williams by 38.9% during the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Sherwin-Williams by 610.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after purchasing an additional 898,143 shares during the last quarter. Finally, Jensen Investment Management Inc. bought a new stake in Sherwin-Williams during the second quarter worth $169,770,000. 77.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Price Performance

NYSE SHW opened at $371.60 on Thursday. The company has a market cap of $94.22 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17. The Sherwin-Williams Company has a 52 week low of $232.06 and a 52 week high of $372.34. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm’s 50-day simple moving average is $343.62 and its two-hundred day simple moving average is $326.02.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the prior year, the firm posted $3.29 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts predict that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, August 16th. Sherwin-Williams’s payout ratio is 30.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SHW. Jefferies Financial Group increased their price target on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Evercore ISI raised their target price on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. BMO Capital Markets reiterated an “outperform” rating and set a $400.00 price target (up from $386.00) on shares of Sherwin-Williams in a report on Wednesday, September 4th. Finally, Barclays increased their price target on Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $362.68.

About Sherwin-Williams

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.