HBK Sorce Advisory LLC Invests Heavily in Sherwin-Williams
HBK Sorce Advisory LLC, a financial institution, has invested in The Sherwin-Williams Company (NYSE:SHW), a global manufacturer and distributor of paints and coatings. According to its latest Form 13F filing with the SEC, HBK Sorce bought 3,397 shares of SHW's stock during the second quarter, valued at approximately $1,256,000. This investment is part of a broader trend of institutional investors increasing their stakes in SHW.
The Sherwin-Williams Company reported its quarterly earnings results on July 28th, beating analysts' expectations with an EPS of $3.70. The company's revenue for the quarter was up 7.5% compared to the same period last year. In addition to HBK Sorce Advisory LLC, other institutional investors such as Sapient Capital LLC and Eastern Bank have also increased their holdings in SHW.
As a result of these investments and its strong earnings report, The Sherwin-Williams Company's stock price has seen some fluctuation. However, with a 52-week high of $379.65 and a market cap of $87.01 billion, SHW remains a significant player in the specialty chemicals industry.