Mirae Asset Global Investments Co. Ltd. increased its holdings in The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 39.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,875 shares of the specialty chemicals company’s stock after purchasing an additional 12,908 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sherwin-Williams were worth $11,451,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Sherwin-Williams by 0.3% in the first quarter. Vanguard Group Inc. now owns 20,675,058 shares of the specialty chemicals company’s stock worth $5,160,908,000 after acquiring an additional 61,660 shares in the last quarter. BlackRock Inc. increased its position in shares of Sherwin-Williams by 0.9% in the first quarter. BlackRock Inc. now owns 17,303,618 shares of the specialty chemicals company’s stock worth $4,319,329,000 after acquiring an additional 149,496 shares in the last quarter. State Street Corp increased its position in shares of Sherwin-Williams by 1.2% in the fourth quarter. State Street Corp now owns 11,031,115 shares of the specialty chemicals company’s stock worth $3,884,717,000 after acquiring an additional 135,716 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Sherwin-Williams by 6.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,651,975 shares of the specialty chemicals company’s stock worth $2,159,706,000 after acquiring an additional 502,212 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Sherwin-Williams by 42.2% in the first quarter. Capital International Investors now owns 4,798,484 shares of the specialty chemicals company’s stock worth $1,197,906,000 after acquiring an additional 1,422,893 shares in the last quarter. 77.48% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
SHW has been the topic of several analyst reports. Mizuho dropped their target price on shares of Sherwin-Williams from $310.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Wells Fargo & Company lowered their price objective on shares of Sherwin-Williams from $285.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Northcoast Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, July 12th. Credit Suisse Group began coverage on shares of Sherwin-Williams in a research report on Tuesday, May 31st. They set an “underperform” rating and a $245.00 price objective on the stock. Finally, Bank of America downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $313.00 to $292.00 in a research report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $310.39.
Sherwin-Williams Price Performance
Sherwin-Williams (NYSE:SHW – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The specialty chemicals company reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.78 by ($0.37). Sherwin-Williams had a return on equity of 82.04% and a net margin of 8.45%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the previous year, the firm posted $2.65 earnings per share. Sherwin-Williams’s quarterly revenue was down 46.6% compared to the same quarter last year. On average, sell-side analysts expect that The Sherwin-Williams Company will post 8.64 earnings per share for the current year.
Sherwin-Williams Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 18th. Sherwin-Williams’s payout ratio is currently 36.09%.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through 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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