Allworth Financial LP Raises Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Allworth Financial LP grew its stake in The Sherwin-Williams Company (NYSE:SHW) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,560 shares of the specialty chemicals company’s stock after buying an additional 28 shares during the quarter. Allworth Financial LP’s holdings in Sherwin-Williams were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Griffin Asset Management Inc. increased its position in Sherwin-Williams by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after buying an additional 26 shares in the last quarter. Conning Inc. increased its position in Sherwin-Williams by 1.9% in the second quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock worth $479,000 after buying an additional 30 shares in the last quarter. Oxbow Advisors LLC increased its position in Sherwin-Williams by 4.5% in the second quarter. Oxbow Advisors LLC now owns 690 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 30 shares in the last quarter. Global X Japan Co. Ltd. increased its position in Sherwin-Williams by 2.2% in the second quarter. Global X Japan Co. Ltd. now owns 1,403 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 30 shares in the last quarter. Finally, Optas LLC increased its position in Sherwin-Williams by 1.3% in the second quarter. Optas LLC now owns 2,424 shares of the specialty chemicals company’s stock worth $723,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

NYSE:SHW opened at $361.62 on Wednesday. The firm has a market capitalization of $91.69 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 2.89 and a beta of 1.17. The Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $392.57. The business has a 50 day simple moving average of $372.27 and a 200-day simple moving average of $335.73. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data 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 the consensus estimate of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $3.20 earnings per share. Equities analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s payout ratio is 30.49%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s 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 sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

SHW has been the subject of a number of analyst reports. Morgan Stanley increased their target price on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Barclays increased their target price on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Citigroup cut 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. Finally, Robert W. Baird increased 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $395.29.

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.