Meristem Family Wealth LLC purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) in the 1st quarter, HoldingsChannel reports. The firm purchased 330 shares of the specialty chemicals company’s stock, valued at approximately $244,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of SHW. Norges Bank purchased a new stake in The Sherwin-Williams during the fourth quarter valued at about $581,188,000. DAVENPORT & Co LLC raised its stake in shares of The Sherwin-Williams by 199.7% during the first quarter. DAVENPORT & Co LLC now owns 570,078 shares of the specialty chemicals company’s stock valued at $140,241,000 after acquiring an additional 379,864 shares during the last quarter. BlackRock Inc. raised its stake in shares of The Sherwin-Williams by 3.3% during the first quarter. BlackRock Inc. now owns 6,119,323 shares of the specialty chemicals company’s stock valued at $4,516,118,000 after acquiring an additional 197,789 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of The Sherwin-Williams by 164.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 316,159 shares of the specialty chemicals company’s stock valued at $80,309,000 after acquiring an additional 196,682 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of The Sherwin-Williams by 23.4% during the fourth quarter. Wells Fargo & Company MN now owns 698,810 shares of the specialty chemicals company’s stock valued at $513,561,000 after acquiring an additional 132,316 shares during the last quarter. Institutional investors and hedge funds own 27.48% of the company’s stock.
NYSE:SHW opened at $277.86 on Friday. The firm’s 50 day moving average price is $274.73. The Sherwin-Williams Company has a 52 week low of $178.66 and a 52 week high of $293.05. The company has a current ratio of 0.90, a quick ratio of 0.58 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $73.90 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08.
The Sherwin-Williams announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 17th that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 21st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, May 20th. The Sherwin-Williams’s dividend payout ratio is currently 26.86%.
Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of The Sherwin-Williams from $275.00 to $315.00 and gave the company an “overweight” rating in a research note on Monday, May 17th. Argus upped their price objective on shares of The Sherwin-Williams from $263.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Wolfe Research initiated coverage on shares of The Sherwin-Williams in a research note on Wednesday, March 17th. They set a “peer perform” rating for the company. Zacks Investment Research raised shares of The Sherwin-Williams from a “hold” rating to a “buy” rating and set a $297.00 price target for the company in a research note on Friday, June 4th. Finally, Wells Fargo & Company increased their price target on shares of The Sherwin-Williams from $300.00 to $317.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $325.91.
About The Sherwin-Williams
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.
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