Makena Capital Management LLC Takes $6.96 Million Position in The Sherwin-Williams Company (NYSE:SHW)

Makena Capital Management LLC purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,226 shares of the specialty chemicals company’s stock, valued at approximately $6,956,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHW. Capital International Investors grew its holdings in shares of Sherwin-Williams by 10.5% during the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock valued at $799,595,000 after acquiring an additional 219,149 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Sherwin-Williams by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after buying an additional 53,487 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in Sherwin-Williams by 132.8% in the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after buying an additional 917,979 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Sherwin-Williams by 18.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after acquiring an additional 238,031 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in Sherwin-Williams by 54.0% during the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after acquiring an additional 496,326 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SHW shares. StockNews.com upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup decreased their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company raised their target price on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Evercore ISI upped their price target on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley increased their price objective on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average target price of $396.47.

Sherwin-Williams Price Performance

NYSE:SHW opened at $371.66 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The stock has a market cap of $93.60 billion, a P/E ratio of 37.02, a PEG ratio of 3.01 and a beta of 1.17. The company has a fifty day moving average price of $376.69 and a 200 day moving average price of $343.40. The Sherwin-Williams Company has a one year low of $270.95 and a one year high of $392.57.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the firm earned $3.20 earnings per share. The company’s revenue was up .7% on a year-over-year basis. Analysts anticipate that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.77%. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

Insider Buying and Selling at Sherwin-Williams

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 $23,301,041.60. The trade was a 18.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.