Mirae Asset Global Investments Co. Ltd. Sells 11,692 Shares of The Sherwin-Williams Company (NYSE:SHW)

Mirae Asset Global Investments Co. Ltd. lowered its position in The Sherwin-Williams Company (NYSE:SHW) by 27.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,955 shares of the specialty chemicals company’s stock after selling 11,692 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sherwin-Williams were worth $11,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PineStone Asset Management Inc. grew 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 purchasing an additional 917,979 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Sherwin-Williams by 610.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after buying an additional 898,143 shares during the last quarter. International Assets Investment Management LLC increased its position in Sherwin-Williams by 40,317.4% during the 3rd quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock valued at $277,361,000 after buying an additional 724,907 shares in the last quarter. Jensen Investment Management Inc. purchased a new position in Sherwin-Williams during the second quarter valued at $169,770,000. Finally, 1832 Asset Management L.P. boosted 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 acquiring an additional 496,326 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $359.04 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.50 and a current ratio of 0.83. The stock has a 50-day simple moving average of $372.00 and a two-hundred day simple moving average of $335.12. The firm has a market capitalization of $91.03 billion, a PE ratio of 38.28, a P/E/G ratio of 2.87 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $392.57.

Sherwin-Williams (NYSE:SHW) last announced 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). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the firm posted $3.20 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. Analysts forecast that The Sherwin-Williams Company will post 11.31 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Insiders Place Their Bets

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 shares were 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 in the company, valued at $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 is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHW shares. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Robert W. Baird upped their target price on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup lowered their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $395.29.

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.