The Sherwin-Williams Company (NYSE:SHW) Position Cut by Rockland Trust Co.

Rockland Trust Co. lowered its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 6.5% during the 3rd quarter, Holdings Channel reports. The fund owned 4,873 shares of the specialty chemicals company’s stock after selling 339 shares during the period. Rockland Trust Co.’s holdings in Sherwin-Williams were worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SHW. HHM Wealth Advisors LLC lifted its holdings in Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares during the period. Semmax Financial Advisors Inc. increased its stake in shares of Sherwin-Williams by 136.4% during the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 60 shares during the period. VitalStone Financial LLC increased its stake in shares of Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 77 shares during the period. Anfield Capital Management LLC bought a new stake in Sherwin-Williams during the second quarter worth approximately $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Sherwin-Williams in the first quarter worth approximately $47,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

SHW has been the subject of several research reports. KeyCorp raised their target price on Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on shares of Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. BMO Capital Markets boosted their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group upped their price target on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $370.39.

Sherwin-Williams Stock Down 1.3 %

Shares of SHW stock opened at $373.10 on Friday. The stock has a 50 day moving average of $363.12 and a 200-day moving average of $330.96. The firm has a market cap of $94.12 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $385.25.

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

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a dividend of $0.715 per share. The ex-dividend date was Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.77%. Sherwin-Williams’s dividend payout ratio is 30.49%.

Insider Buying and Selling at Sherwin-Williams

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 transaction of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

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.