Mission Wealth Management LP Trims Stock Position in The Sherwin-Williams Company $SHW

Mission Wealth Management LP cut its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 7.8% in the third quarter, HoldingsChannel reports. The firm owned 18,216 shares of the specialty chemicals company’s stock after selling 1,541 shares during the period. Mission Wealth Management LP’s holdings in Sherwin-Williams were worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. increased its position in shares of Sherwin-Williams by 95.8% in the second quarter. Johnson Investment Counsel Inc. now owns 78,144 shares of the specialty chemicals company’s stock valued at $26,832,000 after buying an additional 38,228 shares in the last quarter. Cordatus Wealth Management LLC grew its stake in Sherwin-Williams by 149.4% in the 3rd quarter. Cordatus Wealth Management LLC now owns 9,588 shares of the specialty chemicals company’s stock valued at $3,320,000 after acquiring an additional 5,744 shares during the period. Nordea Investment Management AB increased its holdings in Sherwin-Williams by 16.1% in the 3rd quarter. Nordea Investment Management AB now owns 125,914 shares of the specialty chemicals company’s stock worth $43,536,000 after acquiring an additional 17,422 shares in the last quarter. Inscription Capital LLC acquired a new position in Sherwin-Williams during the third quarter worth $1,069,000. Finally, Lindenwold Advisors INC acquired a new position in Sherwin-Williams during the second quarter worth $1,303,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Stock Up 0.7%

SHW stock opened at $357.06 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average of $338.52 and a two-hundred day moving average of $344.01. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $379.65. The company has a market cap of $88.51 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 5.34 and a beta of 1.25.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.07. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business earned $2.09 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SHW. JPMorgan Chase & Co. lifted their target price on shares of Sherwin-Williams from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Citigroup reaffirmed a “buy” rating on shares of Sherwin-Williams in a research note on Monday, January 19th. Royal Bank Of Canada set a $390.00 price objective on Sherwin-Williams and gave the stock an “outperform” rating in a research note on Friday. Mizuho reduced their target price on Sherwin-Williams from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Finally, Bank of America lowered their price target on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $386.33.

Sherwin-Williams Company Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.