Angeles Investment Advisors LLC Acquires New Stake in The Sherwin-Williams Company (NYSE:SHW)

Angeles Investment Advisors LLC purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 545 shares of the specialty chemicals company’s stock, valued at approximately $208,000.

A number of other institutional investors also recently added to or reduced their stakes in SHW. PineStone Asset Management Inc. increased its holdings in shares of Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after purchasing an additional 917,979 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings 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 buying an additional 898,143 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Sherwin-Williams by 40,317.4% during the 3rd quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock valued at $277,361,000 after acquiring an additional 724,907 shares during the period. Jensen Investment Management Inc. purchased a new stake in shares of Sherwin-Williams during the 2nd quarter worth approximately $169,770,000. Finally, 1832 Asset Management L.P. grew its holdings in shares of Sherwin-Williams by 54.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after acquiring an additional 496,326 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHW. BMO Capital Markets lifted their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays upped their price target on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Citigroup dropped their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $396.47.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $387.29 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The company has a market cap of $97.54 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 3.09 and a beta of 1.17. The Sherwin-Williams Company has a 1 year low of $258.52 and a 1 year high of $392.57. The firm has a 50 day moving average price of $375.00 and a 200 day moving average price of $340.53.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 earnings per share. Sell-side analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is currently 28.49%.

Sherwin-Williams Company 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.