Magnetar Financial LLC Takes Position in The Sherwin-Williams Company (NYSE:SHW)

Magnetar Financial LLC bought a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,257 shares of the specialty chemicals company’s stock, valued at approximately $3,359,000.

Other hedge funds have also bought and sold shares of the company. Waterloo Capital L.P. acquired a new position in Sherwin-Williams during the 4th quarter valued at about $360,000. Valeo Financial Advisors LLC boosted its position in shares of Sherwin-Williams by 7.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after buying an additional 193 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Sherwin-Williams by 7.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,533 shares of the specialty chemicals company’s stock worth $532,000 after buying an additional 103 shares in the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Sherwin-Williams by 259.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 6,998 shares of the specialty chemicals company’s stock valued at $2,183,000 after purchasing an additional 5,049 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in shares of Sherwin-Williams by 24.1% during the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after purchasing an additional 1,514 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $418.00 target price on shares of Sherwin-Williams in a research note on Friday, August 30th. Morgan Stanley increased their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. UBS Group raised their price objective on shares of Sherwin-Williams from $375.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their target price on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.68.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Price Performance

SHW opened at $381.85 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The company’s 50-day simple moving average is $355.09 and its two-hundred day simple moving average is $328.48. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $382.83. The stock has a market capitalization of $96.82 billion, a P/E ratio of 40.71, a P/E/G ratio of 2.98 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Sherwin-Williams 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.