Procyon Advisors LLC Sells 441 Shares of The Sherwin-Williams Company (NYSE:SHW)

Procyon Advisors LLC cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 13.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,879 shares of the specialty chemicals company’s stock after selling 441 shares during the quarter. Procyon Advisors LLC’s holdings in Sherwin-Williams were worth $898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Sherwin-Williams by 0.9% during the third quarter. Vanguard Group Inc. now owns 21,256,686 shares of the specialty chemicals company’s stock valued at $5,421,518,000 after purchasing an additional 187,478 shares in the last quarter. State Street Corp lifted its position in shares of Sherwin-Williams by 2.1% in the second quarter. State Street Corp now owns 10,382,442 shares of the specialty chemicals company’s stock valued at $2,756,746,000 after acquiring an additional 211,790 shares in the last quarter. FMR LLC lifted its position in shares of Sherwin-Williams by 65.4% in the third quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock valued at $1,384,160,000 after acquiring an additional 2,146,102 shares in the last quarter. Morgan Stanley lifted its position in shares of Sherwin-Williams by 50.9% in the fourth quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after acquiring an additional 1,747,586 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Sherwin-Williams by 1.8% in the first quarter. Geode Capital Management LLC now owns 4,179,547 shares of the specialty chemicals company’s stock valued at $936,902,000 after acquiring an additional 73,605 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sherwin-Williams

In other news, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock worth $10,340,237 in the last 90 days. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Sherwin-Williams stock traded down $0.71 during midday trading on Thursday, reaching $346.18. The company had a trading volume of 102,110 shares, compared to its average volume of 1,415,203. The company has a market capitalization of $88.09 billion, a P/E ratio of 37.51, a P/E/G ratio of 2.53 and a beta of 1.15. The Sherwin-Williams Company has a 12-month low of $211.91 and a 12-month high of $347.71. The firm’s fifty day simple moving average is $321.19 and its 200-day simple moving average is $289.39. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. Sherwin-Williams’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 26th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, February 23rd. Sherwin-Williams’s dividend payout ratio (DPR) is 30.92%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com upgraded Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Northcoast Research upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Tuesday, February 27th. Wolfe Research initiated coverage on Sherwin-Williams in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their price objective on Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Finally, Mizuho reduced their price objective on Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $320.39.

Sherwin-Williams Company Profile

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.