OLD National Bancorp IN Purchases 503 Shares of The Sherwin-Williams Company (NYSE:SHW)

OLD National Bancorp IN increased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 14.5% during the second quarter, HoldingsChannel.com reports. The firm owned 3,982 shares of the specialty chemicals company’s stock after buying an additional 503 shares during the period. OLD National Bancorp IN’s holdings in Sherwin-Williams were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHW. AIA Group Ltd grew its stake in shares of Sherwin-Williams by 20.8% in the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock valued at $5,088,000 after purchasing an additional 2,810 shares during the period. Simplicity Solutions LLC lifted its holdings in shares of Sherwin-Williams by 182.2% during the fourth quarter. Simplicity Solutions LLC now owns 10,700 shares of the specialty chemicals company’s stock valued at $3,337,000 after acquiring an additional 6,909 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Sherwin-Williams by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock valued at $77,510,000 after acquiring an additional 13,984 shares during the period. Waterloo Capital L.P. acquired a new stake in shares of Sherwin-Williams in the 4th quarter valued at $360,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sherwin-Williams by 36.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,809 shares of the specialty chemicals company’s stock worth $18,966,000 after purchasing an additional 16,120 shares during the last quarter. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Trading Up 0.8 %

Shares of SHW stock traded up $2.91 during trading hours on Friday, reaching $345.62. The company had a trading volume of 1,763,080 shares, compared to its average volume of 1,627,193. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $356.69. The company has a 50 day moving average of $315.65 and a 200 day moving average of $317.84. The firm has a market cap of $87.19 billion, a price-to-earnings ratio of 36.85, a P/E/G ratio of 2.71 and a beta of 1.16.

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, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.29 earnings per share. On average, equities research analysts anticipate that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHW. JPMorgan Chase & Co. reduced their price target on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Barclays raised their target price on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Citigroup lowered their price objective on shares of Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Morgan Stanley upped 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $355.00.

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.