Granite Investment Partners LLC Has $10.99 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Granite Investment Partners LLC increased its stake in The Sherwin-Williams Company (NYSE:SHW) by 33.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,828 shares of the specialty chemicals company’s stock after acquiring an additional 9,310 shares during the quarter. Granite Investment Partners LLC’s holdings in Sherwin-Williams were worth $10,991,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SHW. Conning Inc. increased its stake in Sherwin-Williams by 1.9% in the second quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock valued at $479,000 after purchasing an additional 30 shares in the last quarter. Oxbow Advisors LLC increased its position in Sherwin-Williams by 4.5% in the 2nd quarter. Oxbow Advisors LLC now owns 690 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 30 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in Sherwin-Williams by 2.2% during the 2nd quarter. Global X Japan Co. Ltd. now owns 1,403 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 30 shares during the period. Optas LLC raised its stake in Sherwin-Williams by 1.3% during the 2nd quarter. Optas LLC now owns 2,424 shares of the specialty chemicals company’s stock worth $723,000 after buying an additional 32 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in Sherwin-Williams by 2.9% in the second quarter. Capital Advisors Ltd. LLC now owns 1,173 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Trading Up 1.2 %

NYSE SHW opened at $379.77 on Friday. The stock has a market capitalization of $95.80 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 2.98 and a beta of 1.17. The business’s fifty day moving average is $352.62 and its 200-day moving average is $328.03. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $382.83.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the previous year, the company earned $3.29 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. Sherwin-Williams’s payout ratio is presently 30.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. KeyCorp raised their price objective on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. BMO Capital Markets reissued an “outperform” rating and set a $400.00 target price (up from $386.00) on shares of Sherwin-Williams in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price target on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $362.68.

About Sherwin-Williams

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.