abrdn plc Sells 3,515 Shares of The Sherwin-Williams Company (NYSE:SHW)

abrdn plc decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,283 shares of the specialty chemicals company’s stock after selling 3,515 shares during the period. abrdn plc’s holdings in Sherwin-Williams were worth $42,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. raised its position in Sherwin-Williams by 47.5% during the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. HHM Wealth Advisors LLC increased its position in shares of Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. Semmax Financial Advisors Inc. raised its holdings in Sherwin-Williams by 136.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 60 shares during the period. VitalStone Financial LLC boosted its stake in Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 77 shares during the period. Finally, Anfield Capital Management LLC bought a new position in Sherwin-Williams during the second quarter valued at $38,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $361.99 on Thursday. The firm has a market cap of $91.78 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.89 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $235.84 and a 52-week high of $392.57. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company’s 50 day moving average is $372.35 and its 200 day moving average is $335.91.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the firm posted $3.20 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SHW shares. UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Barclays increased their price target on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Citigroup dropped their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $395.29.

Insider Buying and Selling

In other Sherwin-Williams 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 completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

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.