Van ECK Associates Corp Invests $3.14 Million in The Sherwin-Williams Company (NYSE:SHW)

Van ECK Associates Corp purchased a new position in The Sherwin-Williams Company (NYSE:SHWFree Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,051 shares of the specialty chemicals company’s stock, valued at approximately $3,144,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First United Bank & Trust purchased a new position in shares of Sherwin-Williams in the fourth quarter worth about $31,000. Tortoise Investment Management LLC raised its stake in Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in Sherwin-Williams during the fourth quarter worth about $35,000. Wetzel Investment Advisors Inc. purchased a new position in Sherwin-Williams during the fourth quarter worth about $36,000. Finally, Tompkins Financial Corp raised its stake in Sherwin-Williams by 1,533.3% during the third quarter. Tompkins Financial Corp now owns 147 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 138 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Price Performance

Shares of SHW opened at $295.70 on Friday. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $348.37. The firm’s 50 day moving average price is $304.16 and its 200 day moving average price is $313.05. The company has a market cap of $74.97 billion, a P/E ratio of 31.52, a PEG ratio of 2.38 and a beta of 1.16. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHWGet Free Report) last announced its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the company earned $2.04 earnings per share. Sherwin-Williams’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that The Sherwin-Williams Company will post 11.43 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHW. Citigroup reduced their target price on shares of Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird lifted their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. KeyCorp raised shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 target price on the stock in a research note on Thursday, April 25th. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus price target of $343.41.

View Our Latest Analysis on Sherwin-Williams

Sherwin-Williams Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

Receive News & Ratings for Sherwin-Williams Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams and related companies with MarketBeat.com's FREE daily email newsletter.