The Trellus Management Company LLC Purchases New Position in Sherwin-Williams Co. (SHW)

The Trellus Management Company LLC Purchases New Position in Sherwin-Williams Co. (SHW)

Trellus Management Company LLC purchased a new stake in Sherwin-Williams Co. (NYSE:SHW) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,000 shares of the company’s stock, valued at approximately $1,107,000. Sherwin-Williams accounts for approximately 1.6% of Trellus Management Company LLC’s portfolio, making the stock its 11th largest position.

Several other large investors have also modified their holdings of the company. Lone Pine Capital LLC acquired a new stake in shares of Sherwin-Williams during the second quarter valued at $335,861,000. Third Point LLC purchased a new position in Sherwin-Williams during the second quarter valued at approximately $205,569,000. Ameriprise Financial Inc. increased its position in Sherwin-Williams by 50.1% in the second quarter. Ameriprise Financial Inc. now owns 1,768,167 shares of the company’s stock valued at $519,233,000 after buying an additional 590,350 shares during the last quarter. Capital World Investors purchased a new position in Sherwin-Williams during the second quarter valued at approximately $120,440,000. Finally, Meritage Group LP purchased a new position in Sherwin-Williams during the second quarter valued at approximately $102,270,000. Hedge funds and other institutional investors own 72.84% of the company’s stock.

Shares of Sherwin-Williams Co. (NYSE:SHW) traded down 1.35% during trading on Thursday, reaching $283.09. The company had a trading volume of 1,152,955 shares. The firm has a 50-day moving average of $273.02 and a 200 day moving average of $278.22. The firm has a market capitalization of $26.04 billion, a PE ratio of 23.62 and a beta of 1.01. Sherwin-Williams Co. has a 1-year low of $239.48 and a 1-year high of $312.48.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, October 25th. The company reported $4.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.32 by $0.09. Sherwin-Williams had a net margin of 9.50% and a return on equity of 97.87%. The company earned $3.28 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business posted $3.97 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Sherwin-Williams Co. will post $12.34 earnings per share for the current year.

SHW has been the topic of several research reports. Wells Fargo & Co. initiated coverage on Sherwin-Williams in a report on Wednesday, September 28th. They set a “market perform” rating on the stock. Longbow Research downgraded Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Thursday, January 5th. Vetr upgraded Sherwin-Williams from a “buy” rating to a “strong-buy” rating and set a $313.74 price objective on the stock in a report on Tuesday, January 3rd. Zacks Investment Research downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Finally, Atlantic Securities initiated coverage on Sherwin-Williams in a report on Tuesday, November 29th. They set an “overweight” rating and a $325.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $321.25.

In related news, Director John M. Stropki bought 500 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was bought at an average cost of $247.30 per share, with a total value of $123,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.89% of the company’s stock.

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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