The Sherwin-Williams Company (NYSE:SHW) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 71.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 508,723 shares of the specialty chemicals company’s stock after acquiring an additional 211,831 shares during the quarter. Bank of Montreal Can’s holdings in Sherwin-Williams were worth $151,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital World Investors increased its stake in Sherwin-Williams by 38.9% in the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after buying an additional 1,075,351 shares during the period. PineStone Asset Management Inc. raised its holdings in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Sherwin-Williams by 610.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after purchasing an additional 898,143 shares during the period. Jensen Investment Management Inc. purchased a new stake in Sherwin-Williams in the 2nd quarter valued at approximately $169,770,000. Finally, Public Employees Retirement Association of Colorado increased its position in Sherwin-Williams by 8,986.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock worth $166,592,000 after purchasing an additional 528,243 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Stock Up 0.9 %

SHW opened at $381.85 on Tuesday. The company has a market cap of $96.82 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.17. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $382.83. The firm has a 50 day moving average price of $355.09 and a 200 day moving average price of $328.48.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period last year, the company posted $3.29 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SHW shares. Evercore ISI increased their price target on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, August 30th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a research note on Friday, August 30th. UBS Group raised their price objective on Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, KeyCorp boosted their target price on Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $362.68.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.