Park National Corp OH lessened its stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) by 60.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,678 shares of the specialty chemicals company’s stock after selling 22,362 shares during the period. Park National Corp OH’s holdings in Sherwin-Williams were worth $3,897,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of SHW. Roundview Capital LLC lifted its holdings in shares of Sherwin-Williams by 8.1% in the 1st quarter. Roundview Capital LLC now owns 8,065 shares of the specialty chemicals company’s stock worth $2,013,000 after acquiring an additional 607 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Sherwin-Williams by 189.1% in the 1st quarter. Cibc World Market Inc. now owns 10,409 shares of the specialty chemicals company’s stock worth $2,598,000 after acquiring an additional 6,808 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Sherwin-Williams by 26.5% in the 1st quarter. Sei Investments Co. now owns 118,763 shares of the specialty chemicals company’s stock worth $29,956,000 after acquiring an additional 24,884 shares during the last quarter. Prudential PLC bought a new stake in shares of Sherwin-Williams in the 1st quarter worth approximately $1,231,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Sherwin-Williams by 2.6% in the 1st quarter. Cetera Investment Advisers now owns 11,387 shares of the specialty chemicals company’s stock worth $2,842,000 after acquiring an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 75.87% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Sherwin-Williams from $272.00 to $315.00 in a report on Wednesday, July 26th. BMO Capital Markets upped their price target on shares of Sherwin-Williams from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Wells Fargo & Company lowered their price target on shares of Sherwin-Williams from $300.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, August 25th. Loop Capital upped their price target on shares of Sherwin-Williams from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Bank of America upped their price target on shares of Sherwin-Williams from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $283.61.
Sherwin-Williams Stock Up 0.4 %
NYSE:SHW opened at $269.64 on Thursday. The firm’s 50-day moving average price is $270.29 and its 200-day moving average price is $245.01. The company has a market capitalization of $69.34 billion, a PE ratio of 29.80, a P/E/G ratio of 2.27 and a beta of 1.10. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.00 and a quick ratio of 0.62. The Sherwin-Williams Company has a 1-year low of $195.24 and a 1-year high of $283.80.
Sherwin-Williams (NYSE:SHW – Get Free Report) last released its earnings results on Tuesday, July 25th. The specialty chemicals company reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.58. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.03 billion. Sherwin-Williams had a net margin of 10.20% and a return on equity of 83.63%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 EPS. On average, equities analysts predict that The Sherwin-Williams Company will post 9.78 EPS for the current fiscal year.
Sherwin-Williams Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Thursday, August 17th. Sherwin-Williams’s dividend payout ratio is presently 26.86%.
The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, 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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