CreativeOne Wealth LLC Boosts Position in The Sherwin-Williams Company (NYSE:SHW)

Posted by MarketBeat News on Mar 15th, 2023

CreativeOne Wealth LLC raised its stake in shares of The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 7,831 shares of the specialty chemicals company’s stock after buying an additional 307 shares during the quarter. CreativeOne Wealth LLC’s holdings in Sherwin-Williams were worth $1,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fred Alger Management LLC grew its holdings in Sherwin-Williams by 55,149.7% during the 3rd quarter. Fred Alger Management LLC now owns 87,847 shares of the specialty chemicals company’s stock valued at $17,987,000 after buying an additional 87,688 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Sherwin-Williams by 19.7% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,996 shares of the specialty chemicals company’s stock valued at $2,456,000 after acquiring an additional 1,975 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in shares of Sherwin-Williams by 52.7% during the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 2,516 shares of the specialty chemicals company’s stock valued at $515,000 after acquiring an additional 868 shares during the last quarter. Verus Capital Partners LLC boosted its position in shares of Sherwin-Williams by 11.2% during the 3rd quarter. Verus Capital Partners LLC now owns 1,433 shares of the specialty chemicals company’s stock valued at $293,000 after acquiring an additional 144 shares during the last quarter. Finally, Summit Financial LLC boosted its position in shares of Sherwin-Williams by 16.4% during the 3rd quarter. Summit Financial LLC now owns 3,172 shares of the specialty chemicals company’s stock valued at $649,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Loop Capital dropped their price target on Sherwin-Williams from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, January 27th. Morgan Stanley dropped their price target on Sherwin-Williams from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, January 27th. Mizuho dropped their price target on Sherwin-Williams from $267.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, January 27th. UBS Group lifted their price target on Sherwin-Williams from $242.00 to $255.00 and gave the company a “neutral” rating in a research report on Wednesday, January 11th. Finally, Royal Bank of Canada dropped their target price on Sherwin-Williams from $285.00 to $267.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.39.

Insider Activity

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In other Sherwin-Williams news, CEO John G. Morikis bought 2,207 shares of Sherwin-Williams stock in a transaction dated Friday, January 27th. The shares were purchased at an average cost of $226.70 per share, with a total value of $500,326.90. Following the completion of the purchase, the chief executive officer now owns 231,344 shares of the company’s stock, valued at $52,445,684.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sherwin-Williams news, CEO John G. Morikis bought 2,207 shares of Sherwin-Williams stock in a transaction dated Friday, January 27th. The shares were purchased at an average cost of $226.70 per share, with a total value of $500,326.90. Following the completion of the purchase, the chief executive officer now owns 231,344 shares of the company’s stock, valued at $52,445,684.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Bryan J. Young sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $220.76, for a total value of $607,090.00. Following the transaction, the senior vice president now directly owns 7,955 shares in the company, valued at $1,756,145.80. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $216.99 on Wednesday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.55 and a current ratio of 0.99. The Sherwin-Williams Company has a fifty-two week low of $195.24 and a fifty-two week high of $285.00. The stock has a 50 day moving average price of $232.28 and a two-hundred day moving average price of $230.70. The company has a market capitalization of $55.99 billion, a P/E ratio of 28.11, a PEG ratio of 2.39 and a beta of 1.07.

Sherwin-Williams (NYSE:SHW – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The specialty chemicals company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.05. Sherwin-Williams had a return on equity of 90.04% and a net margin of 9.12%. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Analysts expect that The Sherwin-Williams Company will post 8.71 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Monday, February 27th were paid a dividend of $0.605 per share. The ex-dividend date was Friday, February 24th. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.60. This represents a $2.42 annualized dividend and a dividend yield of 1.12%. Sherwin-Williams’s payout ratio is 31.35%.

Sherwin-Williams Profile

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The Sherwin-Williams Co engages in the development, manufacture, distribution, and sale of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor coverings.