The Manufacturers Life Insurance Company Cuts Stock Position in The Sherwin-Williams Company (NYSE:SHW)

The Manufacturers Life Insurance Company decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 68.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,849 shares of the specialty chemicals company’s stock after selling 517,292 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Sherwin-Williams worth $72,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC grew its position in shares of Sherwin-Williams by 102.3% in the second 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 period. Semmax Financial Advisors Inc. lifted its stake 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 valued at $31,000 after buying an additional 60 shares in the last quarter. VitalStone Financial LLC boosted its holdings in Sherwin-Williams by 233.3% in the 2nd 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 last quarter. Anfield Capital Management LLC purchased a new stake in Sherwin-Williams during the 2nd quarter worth approximately $38,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Sherwin-Williams during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 0.3 %

NYSE SHW opened at $382.73 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The stock has a market capitalization of $96.55 billion, a P/E ratio of 40.80, a PEG ratio of 3.00 and a beta of 1.17. The firm’s 50-day moving average is $359.69 and its two-hundred day moving average is $329.73. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $385.25.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the business posted $3.29 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.75%. Sherwin-Williams’s payout ratio is presently 30.49%.

Analysts Set New Price Targets

SHW has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $400.00 price target (up from $386.00) on shares of Sherwin-Williams in a research note on Wednesday, September 4th. KeyCorp upped their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Robert W. Baird raised their price target on shares of Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Morgan Stanley raised their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus price target of $362.68.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.