Pictet Asset Management Ltd. Has $20.70 Million Stock Position in Sherwin-Williams Co (NYSE:SHW)
Pictet Asset Management Ltd. trimmed its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 45,156 shares of the specialty chemicals company’s stock after selling 2,250 shares during the period. Pictet Asset Management Ltd.’s holdings in Sherwin-Williams were worth $20,695,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC acquired a new stake in Sherwin-Williams during the second quarter valued at approximately $315,000. Fifth Third Bancorp boosted its holdings in shares of Sherwin-Williams by 2.2% in the 1st quarter. Fifth Third Bancorp now owns 97,612 shares of the specialty chemicals company’s stock worth $42,042,000 after acquiring an additional 2,103 shares in the last quarter. Boston Family Office LLC boosted its holdings in shares of Sherwin-Williams by 0.4% in the 2nd quarter. Boston Family Office LLC now owns 9,051 shares of the specialty chemicals company’s stock worth $4,148,000 after acquiring an additional 36 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Sherwin-Williams by 9.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 2,888 shares of the specialty chemicals company’s stock worth $1,324,000 after acquiring an additional 251 shares in the last quarter. Finally, Condor Capital Management boosted its holdings in shares of Sherwin-Williams by 1.5% in the 2nd quarter. Condor Capital Management now owns 3,272 shares of the specialty chemicals company’s stock worth $1,500,000 after acquiring an additional 47 shares in the last quarter. 76.76% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on SHW. Deutsche Bank boosted their target price on Sherwin-Williams from $490.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Northcoast Research reissued a “neutral” rating on shares of Sherwin-Williams in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Co boosted their target price on Sherwin-Williams from $510.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research raised Sherwin-Williams from a “sell” rating to a “hold” rating and set a $526.00 target price on the stock in a report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $525.40.
SHW stock traded up $1.30 during trading on Friday, hitting $540.25. The company had a trading volume of 13,176 shares, compared to its average volume of 406,886. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. The firm has a 50-day moving average price of $519.37 and a 200-day moving average price of $464.42. Sherwin-Williams Co has a 12 month low of $355.28 and a 12 month high of $548.98. The stock has a market cap of $49.98 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 2.05 and a beta of 1.26.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.22. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same quarter in the previous year, the company posted $5.73 EPS. Sherwin-Williams’s revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Sherwin-Williams Co will post 21.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, August 15th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 24.39%.
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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