Mission Wealth Management LP lowered its holdings in Sherwin-Williams Co (NYSE:SHW) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,170 shares of the specialty chemicals company’s stock after selling 38 shares during the period. Mission Wealth Management LP’s holdings in Sherwin-Williams were worth $1,193,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Sherwin-Williams by 0.7% during the second quarter. Vanguard Group Inc. now owns 7,262,410 shares of the specialty chemicals company’s stock worth $3,328,290,000 after purchasing an additional 51,401 shares in the last quarter. BlackRock Inc. raised its holdings in Sherwin-Williams by 1.7% during the second quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock worth $2,534,464,000 after purchasing an additional 90,828 shares in the last quarter. Northern Trust Corp raised its holdings in Sherwin-Williams by 6.0% during the second quarter. Northern Trust Corp now owns 940,308 shares of the specialty chemicals company’s stock worth $430,934,000 after purchasing an additional 53,369 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Sherwin-Williams by 10,335.5% during the second quarter. Nuveen Asset Management LLC now owns 910,704 shares of the specialty chemicals company’s stock worth $417,367,000 after purchasing an additional 901,977 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Sherwin-Williams by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 636,790 shares of the specialty chemicals company’s stock worth $291,833,000 after purchasing an additional 6,113 shares in the last quarter. 76.70% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SHW traded down $4.45 on Thursday, hitting $559.79. 7,100 shares of the stock were exchanged, compared to its average volume of 442,241. Sherwin-Williams Co has a 52-week low of $355.28 and a 52-week high of $565.15. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.80 and a quick ratio of 0.50. The company has a market capitalization of $50.77 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.16 and a beta of 1.27. The company’s 50-day moving average price is $540.60 and its two-hundred day moving average price is $484.52.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.22. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the previous year, the company posted $5.73 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that Sherwin-Williams Co will post 21.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.81%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 24.39%.
In other news, insider Peter J. Ippolito sold 5,284 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $513.05, for a total value of $2,710,956.20. Following the transaction, the insider now directly owns 4,284 shares of the company’s stock, valued at $2,197,906.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David F. Hodnik sold 501 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $521.57, for a total transaction of $261,306.57. Following the completion of the transaction, the director now directly owns 9,569 shares in the company, valued at $4,990,903.33. The disclosure for this sale can be found here. Insiders sold 12,121 shares of company stock worth $6,134,153 over the last ninety days. 0.50% of the stock is currently owned by company insiders.
SHW has been the topic of several recent analyst reports. Barclays boosted their target price on Sherwin-Williams from $470.00 to $505.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Northcoast Research reissued a “neutral” rating on shares of Sherwin-Williams in a report on Monday, July 29th. Buckingham Research boosted their target price on Sherwin-Williams from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. They noted that the move was a valuation call. Morgan Stanley set a $600.00 target price on Sherwin-Williams and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $543.85.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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