Trade Report: The ING Groep NV Takes Position in Sherwin-Williams Co. (SHW)

The ING Groep NV Takes Position in Sherwin-Williams Co. (SHW)

ING Groep NV purchased a new position in shares of Sherwin-Williams Co. (NYSE:SHW) during the second quarter, Holdings Channel reports. The institutional investor purchased 999 shares of the company’s stock, valued at approximately $293,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Sherwin-Williams during the second quarter worth approximately $52,516,000. Loomis Sayles & Co. L P increased its position in shares of Sherwin-Williams by 171.6% in the first quarter. Loomis Sayles & Co. L P now owns 204,031 shares of the company’s stock worth $58,082,000 after buying an additional 128,904 shares during the last quarter. Boston Advisors LLC acquired a new position in shares of Sherwin-Williams during the second quarter worth approximately $20,017,000. SevenBridge Financial Group LLC acquired a new position in shares of Sherwin-Williams during the first quarter worth approximately $163,000. Finally, HBK Investments L P increased its position in shares of Sherwin-Williams by 869.8% in the first quarter. HBK Investments L P now owns 44,300 shares of the company’s stock worth $12,611,000 after buying an additional 39,732 shares during the last quarter. 74.62% of the stock is owned by hedge funds and other institutional investors.

Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 0.16% during midday trading on Thursday, reaching $269.46. 617,409 shares of the company’s stock traded hands. Sherwin-Williams Co. has a 1-year low of $234.96 and a 1-year high of $312.48. The firm’s 50-day moving average price is $278.68 and its 200 day moving average price is $290.21. The stock has a market capitalization of $24.73 billion, a P/E ratio of 22.72 and a beta of 0.92.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.16 by $0.10. The firm earned $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.70 earnings per share. On average, equities analysts predict that Sherwin-Williams Co. will post $12.64 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Seaport Global Securities lowered shares of Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 price objective on the stock. in a research report on Monday, July 11th. Zacks Investment Research lowered shares of Sherwin-Williams from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price objective on shares of Sherwin-Williams in a research report on Wednesday, July 20th. Argus raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday. Finally, Robert W. Baird reissued an “outperform” rating and issued a $330.00 price objective on shares of Sherwin-Williams in a research report on Monday, July 25th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Sherwin-Williams has an average rating of “Buy” and a consensus target price of $324.85.

In other news, insider Joel D. Baxter sold 3,853 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $300.16, for a total value of $1,156,516.48. Following the transaction, the insider now directly owns 8,347 shares in the company, valued at approximately $2,505,435.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John G. Morikis sold 30,353 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the completion of the transaction, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by company insiders.

About Sherwin-Williams

The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

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