DNB Asset Management AS Grows Holdings in Sherwin-Williams Co (NYSE:SHW)

DNB Asset Management AS grew its stake in Sherwin-Williams Co (NYSE:SHW) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,163 shares of the specialty chemicals company’s stock after acquiring an additional 577 shares during the period. DNB Asset Management AS’s holdings in Sherwin-Williams were worth $7,606,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Sherwin-Williams by 11.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 948 shares of the specialty chemicals company’s stock valued at $548,000 after acquiring an additional 100 shares during the period. American National Bank acquired a new position in shares of Sherwin-Williams in the second quarter valued at approximately $4,233,000. Diversified Trust Co acquired a new position in shares of Sherwin-Williams in the second quarter valued at approximately $311,000. Municipal Employees Retirement System of Michigan grew its holdings in shares of Sherwin-Williams by 32.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,560 shares of the specialty chemicals company’s stock valued at $901,000 after purchasing an additional 380 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ acquired a new position in shares of Sherwin-Williams in the second quarter valued at approximately $1,020,000. 76.51% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO David B. Sewell sold 5,752 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $571.13, for a total value of $3,285,139.76. Following the completion of the sale, the chief operating officer now owns 14,100 shares in the company, valued at approximately $8,052,933. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Aaron M. Erter sold 935 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $534.70, for a total transaction of $499,944.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,517 shares of company stock valued at $8,339,284. Company insiders own 0.55% of the company’s stock.

A number of research analysts recently weighed in on SHW shares. Goldman Sachs Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “conviction-buy” rating and set a $590.00 price objective for the company in a report on Monday, March 30th. Wells Fargo & Co lifted their price objective on shares of Sherwin-Williams from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Credit Suisse Group lifted their price objective on shares of Sherwin-Williams from $590.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Stifel Nicolaus restated a “hold” rating on shares of Sherwin-Williams in a report on Thursday, April 30th. Finally, Robert W. Baird boosted their price target on shares of Sherwin-Williams from $550.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $586.57.

Shares of Sherwin-Williams stock opened at $586.12 on Thursday. The company has a fifty day simple moving average of $577.05 and a 200-day simple moving average of $546.28. Sherwin-Williams Co has a 12-month low of $325.43 and a 12-month high of $603.36. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 2.94. The stock has a market cap of $53.46 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.31 and a beta of 1.22.

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 consensus estimate of $3.95 by $0.13. Sherwin-Williams had a net margin of 8.98% and a return on equity of 53.04%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts forecast that Sherwin-Williams Co will post 20.49 earnings per share for the current fiscal year.

Sherwin-Williams Company Profile

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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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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