Point72 Asset Management L.P. Buys 202,121 Shares of The Sherwin-Williams Company (NYSE:SHW)

Point72 Asset Management L.P. raised its holdings in The Sherwin-Williams Company (NYSE:SHW) by 73.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 476,444 shares of the specialty chemicals company’s stock after buying an additional 202,121 shares during the quarter. Point72 Asset Management L.P.’s holdings in Sherwin-Williams were worth $142,185,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Waterloo Capital L.P. purchased a new position in Sherwin-Williams during the fourth quarter valued at $360,000. Valeo Financial Advisors LLC raised its stake in shares of Sherwin-Williams by 7.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after purchasing an additional 193 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Sherwin-Williams by 7.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,533 shares of the specialty chemicals company’s stock worth $532,000 after purchasing an additional 103 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in shares of Sherwin-Williams by 259.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 6,998 shares of the specialty chemicals company’s stock worth $2,183,000 after purchasing an additional 5,049 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in shares of Sherwin-Williams by 24.1% in the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after purchasing an additional 1,514 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock opened at $381.56 on Wednesday. The stock has a 50 day moving average of $356.19 and a 200 day moving average of $328.77. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $383.70. The firm has a market cap of $96.25 billion, a PE ratio of 40.68, a PEG ratio of 3.00 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the company earned $3.29 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, research analysts expect that The Sherwin-Williams Company will post 11.47 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

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

Wall Street Analyst Weigh In

SHW has been the subject of several recent analyst reports. StockNews.com upgraded Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. UBS Group lifted their price objective on Sherwin-Williams from $375.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $400.00 price objective (up previously from $386.00) on shares of Sherwin-Williams in a report on Wednesday, September 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target 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.