Phoenix Financial Ltd. Acquires 1,279 Shares of The Sherwin-Williams Company $SHW
Phoenix Financial Ltd. increased its stake in The Sherwin-Williams Company by 57.4% in Q2, acquiring an additional 1,279 shares, bringing its total to 3,509 shares valued at $1.2 million. Other hedge funds also adjusted their holdings. Sherwin-Williams reported Q2 earnings of $3.38 per share, missing estimates, with revenue of $6.31 billion. The company announced a quarterly dividend of $0.79 per share, payable on December 5. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $387.13.
Phoenix Financial Ltd. grew its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 57.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,509 shares of the specialty chemicals company's stock after acquiring an additional 1,279 shares during the period. Phoenix Financial Ltd.'s holdings in Sherwin-Williams were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Other hedge funds have also recently modified their holdings of the company. Moors & Cabot Inc. grew its position in shares of Sherwin-Williams by 0.4% during the 1st quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company's stock valued at $3,148,000 after acquiring an additional 39 shares during the period. Johnson Investment Counsel Inc. grew its position in shares of Sherwin-Williams by 95.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 78,144 shares of the specialty chemicals company's stock valued at $26,832,000 after acquiring an additional 38,228 shares during the period. Ransom Advisory Ltd bought a new position in Sherwin-Williams in the 1st quarter worth $515,000. Moody Lynn & Lieberson LLC boosted its holdings in Sherwin-Williams by 138.0% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 20,402 shares of the specialty chemicals company's stock worth $7,005,000 after buying an additional 11,828 shares during the period. Finally, Lindenwold Advisors INC bought a new position in Sherwin-Williams in the 2nd quarter worth $1,303,000. Institutional investors own 77.67% of the company's stock.
Sherwin-Williams Stock Up 2.2%
SHW opened at $338.66 on Wednesday. The firm has a 50-day simple moving average of $352.34 and a two-hundred day simple moving average of $347.88. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $400.42. The company has a market capitalization of $84.44 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 3.10 and a beta of 1.20. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78.
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Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.70 earnings per share. Analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.
Sherwin-Williams Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 14th. Sherwin-Williams's dividend payout ratio is currently 31.35%.
Analyst Ratings Changes
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Several brokerages recently weighed in on SHW. JPMorgan Chase & Co. dropped their target price on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Evercore ISI upped their target price on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Sherwin-Williams in a report on Wednesday, October 8th. Loop Capital dropped their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, UBS Group reaffirmed a "buy" rating and issued a $400.00 target price (up previously from $395.00) on shares of Sherwin-Williams in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $387.13.
Get Our Latest Research Report on SHW
Insider Activity
In other news, insider Justin T. Binns sold 609 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the sale, the insider directly owned 17,922 shares in the company, valued at approximately $6,609,992.04. This represents a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James P. Lang sold 860 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer owned 377 shares in the company, valued at $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.
Sherwin-Williams Company Profile
(Free Report)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.
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