Eastern Bank Invests $422,000 in The Sherwin-Williams Company (NYSE:SHW)

Eastern Bank bought a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) during the 3rd quarter, HoldingsChannel reports. The firm bought 1,105 shares of the specialty chemicals company’s stock, valued at approximately $422,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HHM Wealth Advisors LLC lifted its position in shares of Sherwin-Williams by 102.3% during 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 in the last quarter. Semmax Financial Advisors Inc. lifted its holdings in Sherwin-Williams by 136.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 60 shares in the last quarter. VitalStone Financial LLC boosted its position in Sherwin-Williams by 233.3% in the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 77 shares during the last quarter. Anfield Capital Management LLC acquired a new stake in shares of Sherwin-Williams during the second quarter valued at about $38,000. Finally, Friedenthal Financial purchased a new stake in shares of Sherwin-Williams during the third quarter worth about $50,000. 77.67% of the stock is owned by institutional investors and hedge funds.

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 dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

SHW has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $418.00 price objective on shares of Sherwin-Williams in a report on Friday, August 30th. Finally, Barclays upped their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $390.71.

Sherwin-Williams Trading Up 0.4 %

Sherwin-Williams stock opened at $362.72 on Thursday. The firm has a 50-day moving average price of $371.81 and a two-hundred day moving average price of $334.64. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $392.57. The firm has a market capitalization of $91.50 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 3.04 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.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $3.20 earnings per share. Sell-side analysts expect that The Sherwin-Williams Company will post 11.49 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 0.79%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 29.15%.

Sherwin-Williams Company 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.