Fernbridge Capital Management LP Has $71.80 Million Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Fernbridge Capital Management LP trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 15.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 240,578 shares of the specialty chemicals company’s stock after selling 44,008 shares during the quarter. Sherwin-Williams makes up 4.8% of Fernbridge Capital Management LP’s holdings, making the stock its 8th largest holding. Fernbridge Capital Management LP’s holdings in Sherwin-Williams were worth $71,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Sherwin-Williams by 38.9% in 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 buying an additional 1,075,351 shares during the last quarter. PineStone Asset Management Inc. boosted its stake in shares of Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after acquiring an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Sherwin-Williams by 610.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after acquiring an additional 898,143 shares during the last quarter. Jensen Investment Management Inc. bought a new stake in shares of Sherwin-Williams during the 2nd quarter valued at $169,770,000. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Sherwin-Williams by 8,986.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock worth $166,592,000 after purchasing an additional 528,243 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SHW shares. 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 report on Wednesday, July 24th. UBS Group lifted their price objective on Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. KeyCorp lifted their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $418.00 price target on shares of Sherwin-Williams in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $362.68.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Stock Performance

NYSE SHW opened at $378.52 on Friday. The stock has a market capitalization of $95.97 billion, a PE ratio of 40.35, a P/E/G ratio of 2.98 and a beta of 1.17. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $382.83. The business has a 50 day simple moving average of $353.82 and a two-hundred day simple moving average of $328.28. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping 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 company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the previous year, the business posted $3.29 earnings per share. Sherwin-Williams’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.76%. 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.