Ascent Group LLC Lowers Stake in The Sherwin-Williams Company (NYSE:SHW)

Ascent Group LLC reduced its position in The Sherwin-Williams Company (NYSE:SHW) by 8.4% in the second quarter, HoldingsChannel.com reports. The firm owned 1,450 shares of the specialty chemicals company’s stock after selling 133 shares during the period. Ascent Group LLC’s holdings in Sherwin-Williams were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its holdings in Sherwin-Williams by 102.3% in the 2nd 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. boosted its position in shares of Sherwin-Williams by 136.4% during the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 60 shares during the last quarter. VitalStone Financial LLC boosted its position in shares of 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 acquiring an additional 77 shares during the last quarter. Anfield Capital Management LLC purchased a new position in Sherwin-Williams during the second quarter valued at $38,000. Finally, Meeder Asset Management Inc. bought a new stake in Sherwin-Williams in the 2nd quarter valued at $41,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SHW. Morgan Stanley raised their price objective on Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Evercore ISI lifted their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. BMO Capital Markets upped their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday. KeyCorp raised their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $370.39.

Sherwin-Williams Trading Down 0.3 %

Shares of NYSE SHW opened at $380.63 on Wednesday. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $385.25. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The company has a market cap of $96.02 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 3.01 and a beta of 1.17. The business’s 50 day moving average price is $361.59 and its 200-day moving average price is $330.33.

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 analysts’ consensus estimates of $3.51 by $0.19. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.29 earnings per share. On average, sell-side analysts expect that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

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.