OFI Invest Asset Management Increases Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

OFI Invest Asset Management raised its stake in The Sherwin-Williams Company (NYSE:SHW) by 2,367.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,443 shares of the specialty chemicals company’s stock after purchasing an additional 2,344 shares during the quarter. OFI Invest Asset Management’s holdings in Sherwin-Williams were worth $680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC lifted its holdings in shares of Sherwin-Williams by 23.4% in the 4th quarter. SVB Wealth LLC now owns 1,770 shares of the specialty chemicals company’s stock valued at $552,000 after buying an additional 336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sherwin-Williams by 36.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,809 shares of the specialty chemicals company’s stock valued at $18,966,000 after buying an additional 16,120 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Sherwin-Williams by 8.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 22,149 shares of the specialty chemicals company’s stock valued at $6,908,000 after buying an additional 1,802 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Sherwin-Williams by 112.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 519 shares of the specialty chemicals company’s stock valued at $162,000 after buying an additional 275 shares during the period. Finally, Waterfront Wealth Inc. lifted its holdings in shares of Sherwin-Williams by 2.3% in the 4th quarter. Waterfront Wealth Inc. now owns 2,518 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 56 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Down 0.4 %

Shares of SHW traded down $1.35 during midday trading on Friday, reaching $354.40. 1,023,717 shares of the company were exchanged, compared to its average volume of 1,989,448. The stock has a 50-day moving average price of $320.52 and a 200-day moving average price of $319.56. The company has a market cap of $89.40 billion, a price-to-earnings ratio of 37.78, a P/E/G ratio of 2.77 and a beta of 1.16. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $357.64. 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 issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.29 earnings per share. Research analysts expect that The Sherwin-Williams Company will post 11.44 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SHW shares. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Mizuho reduced their price objective on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. KeyCorp lifted their price objective on Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Wells Fargo & Company lifted their price objective on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $355.00.

Sherwin-Williams Profile

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.