LS Investment Advisors LLC trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 79.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,924 shares of the specialty chemicals company’s stock after selling 23,591 shares during the period. LS Investment Advisors LLC’s holdings in Sherwin-Williams were worth $2,040,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHW. Oak Thistle LLC acquired a new stake in shares of Sherwin-Williams during the second quarter valued at about $610,000. IFP Advisors Inc lifted its stake in shares of Sherwin-Williams by 0.8% in the second quarter. IFP Advisors Inc now owns 11,777 shares of the specialty chemicals company’s stock worth $4,055,000 after acquiring an additional 92 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Sherwin-Williams by 23.3% in the second quarter. Gateway Investment Advisers LLC now owns 1,789 shares of the specialty chemicals company’s stock worth $616,000 after acquiring an additional 338 shares in the last quarter. Interchange Capital Partners LLC boosted its holdings in Sherwin-Williams by 24.7% in the second quarter. Interchange Capital Partners LLC now owns 1,222 shares of the specialty chemicals company’s stock valued at $420,000 after purchasing an additional 242 shares during the last quarter. Finally, PCB Capital LLC boosted its holdings in Sherwin-Williams by 5.1% in the second quarter. PCB Capital LLC now owns 1,046 shares of the specialty chemicals company’s stock valued at $360,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.
Sherwin-Williams Trading Up 0.4%
NYSE:SHW opened at $361.62 on Friday. The company has a market cap of $87.79 billion, a PE ratio of 33.33, a P/E/G ratio of 2.68 and a beta of 1.10. The business’s 50 day moving average is $335.22 and its two-hundred day moving average is $332.72. The company has a quick ratio of 0.46, a current ratio of 0.73 and a debt-to-equity ratio of 2.16. The Sherwin-Williams Company has a 52 week low of $289.86 and a 52 week high of $379.65.
Sherwin-Williams Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams’s dividend payout ratio is 29.49%.
Insider Buying and Selling at Sherwin-Williams
In other news, insider Karl J. Jorgenrud sold 7,886 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $368.30, for a total value of $2,904,413.80. Following the transaction, the insider directly owned 11,944 shares in the company, valued at approximately $4,398,975.20. This trade represents a 39.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on SHW shares. The Goldman Sachs Group set a $420.00 price objective on Sherwin-Williams in a report on Wednesday, July 29th. Berenberg Bank set a $380.00 target price on Sherwin-Williams in a research note on Monday, June 8th. Weiss Ratings raised shares of Sherwin-Williams from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 price target (up from $400.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. Finally, Wells Fargo & Company set a $360.00 price objective on shares of Sherwin-Williams and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $385.44.
Get Our Latest Analysis on Sherwin-Williams
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.
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