Motco decreased its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 53.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51 shares of the specialty chemicals company’s stock after selling 59 shares during the quarter. Motco’s holdings in Sherwin-Williams were worth $28,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Sherwin-Williams by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,262,410 shares of the specialty chemicals company’s stock worth $3,328,290,000 after buying an additional 51,401 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Sherwin-Williams by 1.7% in the second quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock valued at $2,534,464,000 after acquiring an additional 90,828 shares during the period. Northern Trust Corp boosted its holdings in shares of Sherwin-Williams by 6.0% in the second quarter. Northern Trust Corp now owns 940,308 shares of the specialty chemicals company’s stock valued at $430,934,000 after acquiring an additional 53,369 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Sherwin-Williams by 10,335.5% in the second quarter. Nuveen Asset Management LLC now owns 910,704 shares of the specialty chemicals company’s stock valued at $417,367,000 after acquiring an additional 901,977 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Sherwin-Williams by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 636,790 shares of the specialty chemicals company’s stock valued at $291,833,000 after acquiring an additional 6,113 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.
In related news, SVP Thomas P. Gilligan sold 4,250 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $570.10, for a total transaction of $2,422,925.00. Following the completion of the transaction, the senior vice president now owns 8,189 shares in the company, valued at approximately $4,668,548.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aaron M. Erter sold 3,280 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $580.62, for a total value of $1,904,433.60. Following the transaction, the insider now owns 6,786 shares of the company’s stock, valued at approximately $3,940,087.32. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.
SHW has been the subject of several research analyst reports. Barclays increased their price objective on Sherwin-Williams from $470.00 to $505.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada set a $631.00 price target on Sherwin-Williams and gave the company a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group raised their price target on Sherwin-Williams from $430.00 to $546.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Northcoast Research restated a “neutral” rating on shares of Sherwin-Williams in a research report on Monday, July 29th. Finally, Morgan Stanley raised their price target on Sherwin-Williams from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $579.59.
Shares of NYSE SHW traded up $2.11 during midday trading on Wednesday, hitting $589.35. The stock had a trading volume of 141,621 shares, compared to its average volume of 568,364. The company has a market capitalization of $53.66 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.30 and a beta of 1.27. Sherwin-Williams Co has a 1-year low of $365.20 and a 1-year high of $589.30. The company has a quick ratio of 0.63, a current ratio of 1.01 and a debt-to-equity ratio of 2.34. The company has a fifty day moving average price of $561.40 and a 200 day moving average price of $501.25.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $6.65 EPS for the quarter, beating the consensus estimate of $6.46 by $0.19. Sherwin-Williams had a return on equity of 50.96% and a net margin of 7.81%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the business posted $5.68 EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Sherwin-Williams Co will post 21.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.13 dividend. The ex-dividend date is Thursday, November 14th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.77%. Sherwin-Williams’s dividend payout ratio (DPR) is 24.39%.
Sherwin-Williams Company Profile
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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