Keybank National Association OH trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,569 shares of the specialty chemicals company’s stock after selling 5,365 shares during the period. Keybank National Association OH’s holdings in Sherwin-Williams were worth $93,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the business. New York Life Investment Management LLC raised its holdings in Sherwin-Williams by 0.8% during the third quarter. New York Life Investment Management LLC now owns 39,782 shares of the specialty chemicals company’s stock worth $12,860,000 after purchasing an additional 308 shares in the last quarter. Kinsale Capital Group Inc. raised its stake in Sherwin-Williams by 36.4% during the 3rd quarter. Kinsale Capital Group Inc. now owns 30,408 shares of the specialty chemicals company’s stock valued at $9,830,000 after acquiring an additional 8,120 shares during the last quarter. 71 West Capital Partners lifted its holdings in shares of Sherwin-Williams by 23.4% during the third quarter. 71 West Capital Partners now owns 2,340 shares of the specialty chemicals company’s stock worth $756,000 after purchasing an additional 444 shares during the period. Nemes Rush Group LLC grew its position in Sherwin-Williams by 1.7% in the 3rd quarter. Nemes Rush Group LLC now owns 10,118 shares of the specialty chemicals company’s stock valued at $3,271,000 after buying an additional 168 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in Sherwin-Williams in the 3rd quarter valued at $774,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SHW has been the subject of a number of analyst reports. DA Davidson set a $390.00 price objective on shares of Sherwin-Williams and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Mizuho set a $396.00 target price on shares of Sherwin-Williams and gave the company an “outperform” rating in a report on Thursday, September 24th. Bank of America boosted their price target on shares of Sherwin-Williams from $369.00 to $383.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Guggenheim reiterated a “buy” rating and set a $375.00 price target (down from $400.00) on shares of Sherwin-Williams in a research note on Wednesday, October 28th. Finally, UBS Group reissued a “neutral” rating and set a $370.00 price target (up from $363.00) on shares of Sherwin-Williams in a report on Wednesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average price target of $377.29.
Get Our Latest Report on Sherwin-Williams
Sherwin-Williams Trading Down 0.7%
Shares of SHW stock opened at $355.59 on Wednesday. The business’s fifty day moving average price is $330.26 and its 200 day moving average price is $333.06. The Sherwin-Williams Company has a 1-year low of $289.86 and a 1-year high of $377.77. The firm has a market capitalization of $85.91 billion, a PE ratio of 32.68, a P/E/G ratio of 2.98 and a beta of 1.04. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.71 and a quick ratio of 0.45.
Sherwin-Williams (NYSE:SHW – Get Free Report) last released its earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 EPS for the quarter, missing analysts’ consensus estimates of $3.69 by ($0.06). Sherwin-Williams had a net margin of 10.74% and a return on equity of 69.51%. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.78 billion. During the same period last year, the business posted $3.59 EPS. Sherwin-Williams’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 12.02 EPS for the current fiscal year.
Sherwin-Williams Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.41%.
Insider Transactions at Sherwin-Williams
In related news, SVP James R. Jaye sold 2,301 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $345.56, for a total value of $795,133.56. Following the completion of the sale, the senior vice president owned 6,936 shares in the company, valued at $2,396,804.16. This trade represents a 24.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO James P. Lang sold 1,309 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $361.91, for a total transaction of $473,740.19. Following the sale, the chief accounting officer directly owned 861 shares in the company, valued at approximately $311,604.51. This represents a 60.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,315 shares of company stock valued at $7,848,071. 0.23% of the stock is owned by company insiders.
Sherwin-Williams Profile
The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.
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