CX Institutional Sells 836 Shares of The Sherwin-Williams Company (NYSE:SHW)

CX Institutional lowered its stake in The Sherwin-Williams Company (NYSE:SHW) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,744 shares of the specialty chemicals company’s stock after selling 836 shares during the period. CX Institutional’s holdings in Sherwin-Williams were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. PineStone Asset Management Inc. lifted its holdings in Sherwin-Williams by 132.8% in the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after buying an additional 917,979 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Sherwin-Williams by 610.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after purchasing an additional 898,143 shares in the last quarter. Jensen Investment Management Inc. purchased a new stake in Sherwin-Williams in the second quarter worth $169,770,000. 1832 Asset Management L.P. raised its holdings in Sherwin-Williams by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after purchasing an additional 496,326 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Sherwin-Williams by 192.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 393,010 shares of the specialty chemicals company’s stock valued at $116,322,000 after buying an additional 258,511 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Up 0.2 %

Shares of Sherwin-Williams stock opened at $389.42 on Thursday. The Sherwin-Williams Company has a twelve month low of $232.06 and a twelve month high of $392.57. 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 company’s 50 day moving average is $368.80 and its 200 day moving average is $333.14. The company has a market cap of $98.74 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the prior year, the firm earned $3.29 EPS. The company’s revenue was up .5% compared to the same quarter last year. Research analysts anticipate that The Sherwin-Williams Company will post 11.5 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.73%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SHW shares. The Goldman Sachs Group increased their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays lifted their target price on shares of Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Jefferies Financial Group raised their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company boosted their target price on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus price target of $373.17.

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.