Everence Capital Management Inc. Acquires New Position in The Sherwin-Williams Company (NYSE:SHW)

Everence Capital Management Inc. acquired a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,500 shares of the specialty chemicals company’s stock, valued at approximately $573,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Sherwin-Williams by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after purchasing an additional 184,979 shares during the last quarter. Capital International Investors lifted its stake in Sherwin-Williams by 10.5% during the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock valued at $799,595,000 after acquiring an additional 219,149 shares during the period. Legal & General Group Plc lifted its stake in Sherwin-Williams by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after acquiring an additional 53,487 shares during the period. PineStone Asset Management Inc. lifted its stake in shares of Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in Sherwin-Williams by 18.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock worth $454,917,000 after acquiring an additional 238,031 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Down 1.7 %

Shares of SHW opened at $381.75 on Tuesday. The company has a market cap of $96.30 billion, a PE ratio of 38.91, a P/E/G ratio of 3.04 and a beta of 1.17. The business has a fifty day moving average of $371.35 and a 200 day moving average of $334.24. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week 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.

Sherwin-Williams (NYSE:SHW) last released its 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 return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the company earned $3.29 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts expect that The Sherwin-Williams Company will post 11.49 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. Sherwin-Williams’s dividend payout ratio (DPR) is 29.15%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore ISI raised their target price on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Barclays raised their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $418.00 price objective on shares of Sherwin-Williams in a report on Friday, August 30th. Robert W. Baird increased their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $383.35.

Insider Transactions at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Profile

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.