CNB Bank Has $869,000 Position in The Sherwin-Williams Company $SHW

CNB Bank lowered its stake in The Sherwin-Williams Company (NYSE:SHW) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,531 shares of the specialty chemicals company’s stock after selling 140 shares during the period. CNB Bank’s holdings in Sherwin-Williams were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SHW. Price T Rowe Associates Inc. MD boosted its stake in Sherwin-Williams by 21.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company’s stock valued at $3,023,126,000 after acquiring an additional 1,505,341 shares during the last quarter. Nuveen LLC bought a new position in Sherwin-Williams in the first quarter valued at approximately $265,510,000. Assenagon Asset Management S.A. boosted its stake in Sherwin-Williams by 601.0% in the second quarter. Assenagon Asset Management S.A. now owns 839,756 shares of the specialty chemicals company’s stock valued at $288,339,000 after acquiring an additional 719,965 shares during the last quarter. National Bank of Canada FI boosted its stake in Sherwin-Williams by 223.1% in the first quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company’s stock valued at $214,883,000 after acquiring an additional 424,930 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in Sherwin-Williams by 367.9% in the first quarter. Alyeska Investment Group L.P. now owns 537,216 shares of the specialty chemicals company’s stock valued at $187,590,000 after acquiring an additional 422,410 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the sale, the chief accounting officer owned 377 shares of the company’s stock, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin T. Binns sold 609 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the completion of the sale, the insider directly owned 17,922 shares of the company’s stock, valued at $6,609,992.04. This trade represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Trading Up 0.6%

Shares of NYSE SHW opened at $333.64 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market cap of $83.19 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 3.11 and a beta of 1.20. The firm has a 50 day moving average price of $350.33 and a two-hundred day moving average price of $347.98. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the previous year, the business posted $3.70 EPS. Sherwin-Williams’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.16 annualized dividend and a dividend yield of 0.9%. Sherwin-Williams’s payout ratio is 31.35%.

Wall Street Analyst Weigh In

SHW has been the topic of a number of recent analyst reports. Bank of America reduced their price target on shares of Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Citigroup reiterated a “neutral” rating and issued a $380.00 price target (up from $375.00) on shares of Sherwin-Williams in a research note on Monday, October 6th. UBS Group restated a “buy” rating and set a $400.00 price objective (up from $395.00) on shares of Sherwin-Williams in a research note on Monday, October 6th. Loop Capital lowered their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $387.13.

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.