Cadence Bank Acquires 160 Shares of The Sherwin-Williams Company (NYSE:SHW)

Cadence Bank raised its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 21.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the specialty chemicals company’s stock after purchasing an additional 160 shares during the period. Cadence Bank’s holdings in Sherwin-Williams were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHW. LRI Investments LLC bought a new stake in Sherwin-Williams in the first quarter valued at $308,000. Swedbank AB purchased a new stake in shares of Sherwin-Williams in the 1st quarter worth about $38,580,000. Atria Investments Inc boosted its stake in shares of Sherwin-Williams by 6.5% during the 1st quarter. Atria Investments Inc now owns 33,504 shares of the specialty chemicals company’s stock valued at $11,637,000 after purchasing an additional 2,046 shares in the last quarter. PGGM Investments increased its position in shares of Sherwin-Williams by 2.4% during the first quarter. PGGM Investments now owns 22,022 shares of the specialty chemicals company’s stock valued at $7,649,000 after buying an additional 521 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Sherwin-Williams by 449.5% in the first quarter. Cetera Investment Advisers now owns 56,691 shares of the specialty chemicals company’s stock worth $19,690,000 after buying an additional 46,375 shares during the period. Institutional investors own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other news, SVP Gregory P. Sofish sold 2,565 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,396,349.27. This trade represents a 28.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,855 shares of company stock worth $12,572,756. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. Citigroup decreased their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. BMO Capital Markets boosted their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company increased their price target on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $396.47.

Sherwin-Williams Price Performance

SHW opened at $394.00 on Thursday. The company’s 50-day simple moving average is $378.27 and its two-hundred day simple moving average is $345.96. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The stock has a market capitalization of $99.23 billion, a P/E ratio of 39.24, a P/E/G ratio of 3.22 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $272.34 and a 52-week high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.20 EPS. As a group, analysts predict that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s payout ratio is 28.49%.

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.