Absoluto Partners Gestao de Recursos Ltda Makes New $2.39 Million Investment in The Sherwin-Williams Company (NYSE:SHW)

Absoluto Partners Gestao de Recursos Ltda bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,023 shares of the specialty chemicals company’s stock, valued at approximately $2,394,000. Sherwin-Williams accounts for approximately 1.5% of Absoluto Partners Gestao de Recursos Ltda’s investment portfolio, making the stock its 10th largest holding.

A number of other large investors also recently modified their holdings of SHW. Vanguard Group Inc. grew its stake in Sherwin-Williams by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after buying an additional 184,979 shares during the last quarter. Capital World Investors raised its holdings in Sherwin-Williams by 38.9% during the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Sherwin-Williams by 2.3% in the 4th quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock worth $791,008,000 after buying an additional 56,161 shares in the last quarter. Capital International Investors lifted its holdings in shares of Sherwin-Williams by 10.5% in the first quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock valued at $799,595,000 after buying an additional 219,149 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Sherwin-Williams by 2.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,820,266 shares of the specialty chemicals company’s stock valued at $567,740,000 after buying an additional 49,809 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Stock Down 0.1 %

SHW opened at $381.56 on Wednesday. The business has a 50 day moving average of $356.19 and a 200-day moving average of $328.77. The stock has a market capitalization of $96.25 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 3.00 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $383.70.

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, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the business earned $3.29 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on 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 owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SHW has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $418.00 price target on shares of Sherwin-Williams in a research report on Friday, August 30th. Robert W. Baird lifted their price target on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. UBS Group upped their price target on Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their target price on Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.