King Luther Capital Management Corp Sells 9,784 Shares of The Sherwin-Williams Company $SHW

King Luther Capital Management Corp lessened its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,217 shares of the specialty chemicals company’s stock after selling 9,784 shares during the quarter. King Luther Capital Management Corp owned about 0.09% of Sherwin-Williams worth $70,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Maryland State Retirement & Pension System lifted its stake in shares of Sherwin-Williams by 10.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,781 shares of the specialty chemicals company’s stock worth $4,455,000 after purchasing an additional 1,302 shares during the period. Ritholtz Wealth Management increased its position in Sherwin-Williams by 0.9% during the third quarter. Ritholtz Wealth Management now owns 6,997 shares of the specialty chemicals company’s stock valued at $2,262,000 after acquiring an additional 63 shares during the last quarter. Joel Isaacson & Co. LLC lifted its stake in shares of Sherwin-Williams by 4.4% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,140 shares of the specialty chemicals company’s stock worth $369,000 after acquiring an additional 48 shares during the last quarter. Jacobi Capital Management LLC increased its position in shares of Sherwin-Williams by 1.0% during the third quarter. Jacobi Capital Management LLC now owns 3,156 shares of the specialty chemicals company’s stock worth $1,020,000 after acquiring an additional 30 shares during the period. Finally, Machina Capital S.A.S. purchased a new stake in Sherwin-Williams in the third quarter worth about $3,870,000. 77.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO James P. Lang sold 1,309 shares of Sherwin-Williams stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $361.91, for a total value of $473,740.19. Following the transaction, the chief accounting officer owned 861 shares in the company, valued at $311,604.51. This trade represents a 60.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP James R. Jaye sold 2,301 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $345.56, for a total value of $795,133.56. Following the transaction, the senior vice president directly owned 6,936 shares of the company’s stock, valued at $2,396,804.16. This represents a 24.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,315 shares of company stock valued at $7,848,071. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BNP Paribas Exane upped their price objective on shares of Sherwin-Williams from $345.00 to $360.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Royal Bank Of Canada cut their price target on Sherwin-Williams from $392.00 to $383.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Weiss Ratings cut Sherwin-Williams from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Citigroup cut their price objective on Sherwin-Williams from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Finally, Guggenheim reiterated 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. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.29.

Sherwin-Williams Stock Down 0.0%

SHW stock opened at $355.23 on Thursday. The firm’s 50-day simple moving average is $330.77 and its 200 day simple moving average is $333.10. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 2.00. The stock has a market cap of $85.82 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 2.96 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.

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

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be given 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 is presently 29.41%.

Sherwin-Williams Company Profile

The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.