Penserra Capital Management LLC Increases Holdings in Sherwin-Williams Co (NYSE:SHW)
Penserra Capital Management LLC lifted its position in Sherwin-Williams Co (NYSE:SHW) by 30.9% in the 4th quarter, HoldingsChannel reports. The firm owned 144 shares of the specialty chemicals company’s stock after purchasing an additional 34 shares during the quarter. Penserra Capital Management LLC’s holdings in Sherwin-Williams were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in SHW. Solstein Capital LLC purchased a new position in Sherwin-Williams in the fourth quarter valued at about $198,000. Ballast Inc. raised its holdings in Sherwin-Williams by 6.8% during the fourth quarter. Ballast Inc. now owns 1,270 shares of the specialty chemicals company’s stock worth $741,000 after purchasing an additional 81 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Sherwin-Williams during the fourth quarter worth approximately $3,574,000. Cetera Investment Advisers raised its holdings in Sherwin-Williams by 16.3% during the fourth quarter. Cetera Investment Advisers now owns 541 shares of the specialty chemicals company’s stock worth $315,000 after purchasing an additional 76 shares in the last quarter. Finally, Chesapeake Wealth Management raised its holdings in Sherwin-Williams by 4.3% during the fourth quarter. Chesapeake Wealth Management now owns 2,429 shares of the specialty chemicals company’s stock worth $1,417,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 77.77% of the company’s stock.
In other Sherwin-Williams news, SVP Jane M. Cronin sold 908 shares of Sherwin-Williams stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $492.14, for a total transaction of $446,863.12. Following the transaction, the senior vice president now directly owns 2,915 shares in the company, valued at approximately $1,434,588.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.55% of the company’s stock.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $4.40 by ($0.13). Sherwin-Williams had a return on equity of 51.35% and a net margin of 8.61%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the firm posted $3.54 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts predict that Sherwin-Williams Co will post 22.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 1.15%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $1.13. The ex-dividend date was Friday, February 28th. Sherwin-Williams’s payout ratio is presently 25.38%.
Several brokerages recently commented on SHW. Northcoast Research raised Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $620.00 target price on the stock in a report on Monday, March 2nd. Evercore ISI initiated coverage on Sherwin-Williams in a report on Friday, February 7th. They issued a “buy” rating on the stock. Loop Capital initiated coverage on Sherwin-Williams in a report on Thursday, January 23rd. They issued a “buy” rating and a $680.00 price target on the stock. Citigroup dropped their price target on Sherwin-Williams from $657.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price target on Sherwin-Williams from $631.00 to $611.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Sherwin-Williams presently has an average rating of “Hold” and a consensus target price of $588.42.
Sherwin-Williams Company Profile
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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