The Sherwin-Williams Company $SHW Stock Position Lowered by Northeast Investment Management

Northeast Investment Management cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,271 shares of the specialty chemicals company’s stock after selling 1,416 shares during the period. Northeast Investment Management’s holdings in Sherwin-Williams were worth $10,432,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Sherwin-Williams during the second quarter valued at about $6,100,083,000. Wellington Management Group LLP grew its stake in 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 acquiring an additional 1,593,009 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Sherwin-Williams during the 2nd quarter worth approximately $547,097,000. Legal & General Group Plc bought a new stake in Sherwin-Williams during the 2nd quarter worth approximately $459,652,000. Finally, Bank of America Corp DE purchased a new stake in Sherwin-Williams in the 2nd quarter worth approximately $412,339,000. 77.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHW shares. BMO Capital Markets reissued an “outperform” rating on shares of Sherwin-Williams in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Sherwin-Williams from $355.00 to $375.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. BNP Paribas Exane upped their target price on Sherwin-Williams from $345.00 to $360.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Melius Research began coverage on Sherwin-Williams in a research note on Tuesday, October 6th. They issued a “hold” rating and a $367.00 target price on the stock. Finally, Mizuho set a $396.00 price target on Sherwin-Williams and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $377.29.

Sherwin-Williams Stock Up 6.7%

NYSE:SHW opened at $363.70 on Thursday. The firm has a market cap of $87.87 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.84 and a beta of 1.05. The Sherwin-Williams Company has a fifty-two week low of $289.86 and a fifty-two week high of $377.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.45 and a current ratio of 0.71. The firm has a 50-day simple moving average of $329.67 and a two-hundred day simple moving average of $333.09.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.69 by ($0.06). The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.78 billion. Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.59 EPS. 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.41%.

Insider Activity

In related news, SVP Mary Garceau sold 3,891 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $350.42, for a total transaction of $1,363,484.22. Following the completion of the transaction, the senior vice president directly owned 31,466 shares of the company’s stock, valued at approximately $11,026,315.72. This trade represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin T. Binns sold 13,500 shares of the business’s stock in a transaction on 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 completion of the sale, the insider owned 21,937 shares in the company, valued at $7,737,179.90. This represents a 38.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,277 shares of company stock worth $9,029,348 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

About Sherwin-Williams

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.