The Sherwin-Williams Company $SHW Stock Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 348.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,737 shares of the specialty chemicals company’s stock after purchasing an additional 2,903 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Sherwin-Williams were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Sherwin-Williams in the 2nd quarter worth $6,100,083,000. Wellington Management Group LLP increased its stake in shares of Sherwin-Williams by 133.7% during the second quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company’s stock valued at $958,821,000 after buying an additional 1,593,009 shares during the period. Amundi increased its stake in shares of Sherwin-Williams by 20.6% during the first quarter. Amundi now owns 2,200,895 shares of the specialty chemicals company’s stock valued at $705,497,000 after buying an additional 376,505 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Sherwin-Williams during the second quarter valued at $547,097,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Sherwin-Williams by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,417,166 shares of the specialty chemicals company’s stock valued at $454,226,000 after acquiring an additional 39,853 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on SHW shares. Guggenheim reaffirmed a “buy” rating and issued a $375.00 price objective (down from $400.00) on shares of Sherwin-Williams in a research note on Wednesday, October 28th. Wells Fargo & Company set a $340.00 target price on shares of Sherwin-Williams and gave the company an “equal weight” rating in a research report on Friday, September 25th. Jefferies Financial Group restated a “hold” rating and issued a $353.00 price target on shares of Sherwin-Williams in a report on Tuesday, October 27th. Berenberg Bank upped their price target on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Barclays set a $329.00 price target on shares of Sherwin-Williams and gave the stock an “equal weight” rating in a research report on Wednesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $377.29.

Insiders Place Their Bets

In other news, insider Justin T. Binns sold 13,500 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the sale, the insider owned 21,937 shares in the company, valued at approximately $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl Jorgenrud sold 7,886 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the transaction, the insider owned 11,944 shares in the company, valued at approximately $4,398,975.20. This trade represents a 39.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 25,277 shares of company stock valued at $9,029,348. 0.23% of the stock is currently owned by corporate insiders.

Sherwin-Williams Stock Performance

Shares of SHW opened at $363.70 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 2.00. The firm has a market cap of $87.87 billion, a PE ratio of 33.43, a P/E/G ratio of 2.84 and a beta of 1.05. The Sherwin-Williams Company has a 12 month low of $289.86 and a 12 month high of $377.77. The stock has a fifty day moving average price of $329.67 and a 200-day moving average price of $333.09.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share for the quarter, missing the consensus estimate of $3.69 by ($0.06). Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.78 billion. During the same quarter last year, the firm earned $3.59 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that The Sherwin-Williams Company will post 12.02 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.41%.

Sherwin-Williams Company Profile

The Sherwin-Williams Company (NYSE: SHW) develops, manufactures, distributes and sells paints, coatings and related products. Its offerings include architectural paints, industrial coatings, wood finishes, protective coatings, automotive refinishing products, floor coatings and related supplies marketed under brands such as Sherwin-Williams, Valspar, Minwax, Krylon and Dutch Boy.

Founded in 1866 and headquartered in Cleveland, Ohio, Sherwin-Williams serves professional contractors, do-it-yourself consumers, industrial manufacturers, commercial businesses and other customers.