The Manufacturers Life Insurance Company Sells 32,896 Shares of The Sherwin-Williams Company (NYSE:SHW)

The Manufacturers Life Insurance Company lowered its stake in The Sherwin-Williams Company (NYSE:SHW) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 209,953 shares of the specialty chemicals company’s stock after selling 32,896 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Sherwin-Williams worth $80,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Griffin Asset Management Inc. boosted its stake in Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after purchasing an additional 26 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Sherwin-Williams by 2.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after purchasing an additional 28 shares during the period. GHP Investment Advisors Inc. boosted its position in shares of Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 28 shares during the last quarter. Allworth Financial LP boosted its position in shares of Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock valued at $595,000 after acquiring an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its position in shares of Sherwin-Williams by 1.9% during the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

SHW opened at $394.00 on Thursday. 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 Sherwin-Williams Company has a 52-week low of $272.34 and a 52-week high of $400.42. The stock has a market capitalization of $99.23 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17. The stock’s 50 day moving average price is $378.27 and its 200-day moving average price is $345.96.

Sherwin-Williams (NYSE:SHW) last posted 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). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the firm posted $3.20 earnings per share. Sherwin-Williams’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts predict that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the sale, the senior vice president now directly owns 29,205 shares in the company, valued at $11,621,253.60. This trade represents a 35.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,855 shares of company stock worth $12,572,756 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SHW shares. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Citigroup dropped their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird boosted their target price on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

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.