Regent Investment Management LLC bought a new position in shares of Sherwin-Williams Co (NYSE:SHW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 409 shares of the specialty chemicals company’s stock, valued at approximately $236,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fiera Capital Corp grew its stake in Sherwin-Williams by 1.4% during the first quarter. Fiera Capital Corp now owns 1,624,120 shares of the specialty chemicals company’s stock worth $746,314,000 after purchasing an additional 22,437 shares during the period. JPMorgan Chase & Co. grew its stake in Sherwin-Williams by 20.6% during the first quarter. JPMorgan Chase & Co. now owns 1,458,755 shares of the specialty chemicals company’s stock worth $670,328,000 after purchasing an additional 248,727 shares during the period. Janus Henderson Group PLC grew its stake in Sherwin-Williams by 4.3% during the first quarter. Janus Henderson Group PLC now owns 950,853 shares of the specialty chemicals company’s stock worth $436,955,000 after purchasing an additional 39,096 shares during the period. Morgan Stanley grew its stake in Sherwin-Williams by 46.8% during the first quarter. Morgan Stanley now owns 870,538 shares of the specialty chemicals company’s stock worth $400,031,000 after purchasing an additional 277,410 shares during the period. Finally, Capital Research Global Investors grew its stake in Sherwin-Williams by 70.7% during the first quarter. Capital Research Global Investors now owns 869,620 shares of the specialty chemicals company’s stock worth $399,608,000 after purchasing an additional 360,086 shares during the period. 76.25% of the stock is owned by institutional investors and hedge funds.
Shares of Sherwin-Williams stock opened at $647.92 on Friday. The business’s fifty day simple moving average is $588.73 and its 200 day simple moving average is $550.00. The firm has a market capitalization of $58.99 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 3.10 and a beta of 1.22. Sherwin-Williams Co has a 12 month low of $325.43 and a 12 month high of $659.87. The company has a current ratio of 1.10, a quick ratio of 0.57 and a debt-to-equity ratio of 2.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a $1.34 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.36 annualized dividend and a dividend yield of 0.83%. Sherwin-Williams’s payout ratio is presently 25.38%.
In other Sherwin-Williams news, insider Aaron M. Erter sold 935 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $534.70, for a total value of $499,944.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO David B. Sewell sold 5,752 shares of the business’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 $8,052,933. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,481 shares of company stock worth $11,529,647. Corporate insiders own 0.55% of the company’s stock.
A number of equities research analysts have commented on SHW shares. Robert W. Baird raised their price objective on Sherwin-Williams from $550.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, June 24th. Loop Capital raised their price objective on Sherwin-Williams from $625.00 to $695.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “strong-buy” rating and set a $745.00 price objective for the company in a research note on Friday. Citigroup raised their price objective on Sherwin-Williams from $555.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, UBS Group lifted their target price on Sherwin-Williams from $480.00 to $520.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $641.95.
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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