Sunbelt Securities Inc. Cuts Stake in The Sherwin-Williams Company (NYSE:SHW)

Sunbelt Securities Inc. lessened its stake in The Sherwin-Williams Company (NYSE:SHW) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,580 shares of the specialty chemicals company’s stock after selling 96 shares during the quarter. Sunbelt Securities Inc.’s holdings in Sherwin-Williams were worth $1,068,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Copperwynd Financial LLC boosted its stake in Sherwin-Williams by 7.6% during the 2nd quarter. Copperwynd Financial LLC now owns 722 shares of the specialty chemicals company’s stock valued at $215,000 after purchasing an additional 51 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Sherwin-Williams by 133.4% during the second quarter. Kathmere Capital Management LLC now owns 2,054 shares of the specialty chemicals company’s stock valued at $613,000 after purchasing an additional 1,174 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Sherwin-Williams during the second quarter valued at $287,000. Legal & General Group Plc increased its holdings in Sherwin-Williams by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock worth $573,538,000 after buying an additional 53,487 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Sherwin-Williams during the 2nd quarter valued at about $998,000. Institutional investors own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Evercore ISI raised their price objective on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. BMO Capital Markets boosted their price target on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday. Barclays raised their price objective on Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus target price of $370.39.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Stock Performance

NYSE SHW opened at $381.67 on Tuesday. The stock has a market capitalization of $96.77 billion, a PE ratio of 40.69, a P/E/G ratio of 3.00 and a beta of 1.17. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $385.25. The business has a 50 day simple moving average of $360.87 and a two-hundred day simple moving average of $330.01. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the previous year, the business posted $3.29 earnings per share. Sherwin-Williams’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.75%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

About Sherwin-Williams

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.