Pictet Asset Management Ltd. cut its position in shares of Sherwin-Williams Co (NYSE:SHW) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,156 shares of the specialty chemicals company’s stock after selling 2,250 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Sherwin-Williams were worth $20,695,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SHW. Berman Capital Advisors LLC boosted its stake in shares of Sherwin-Williams by 21.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 124 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 22 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in shares of Sherwin-Williams by 3.8% during the 1st quarter. Griffin Asset Management Inc. now owns 633 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 23 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its stake in shares of Sherwin-Williams by 1.5% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,675 shares of the specialty chemicals company’s stock worth $767,000 after acquiring an additional 25 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of Sherwin-Williams by 4.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 675 shares of the specialty chemicals company’s stock worth $309,000 after acquiring an additional 27 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in shares of Sherwin-Williams by 24.1% during the 2nd quarter. Contravisory Investment Management Inc. now owns 139 shares of the specialty chemicals company’s stock worth $64,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 76.76% of the company’s stock.

Several research firms have recently weighed in on SHW. JPMorgan Chase & Co. raised their price objective on Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. KeyCorp raised their price objective on Sherwin-Williams from $500.00 to $525.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Zacks Investment Research raised Sherwin-Williams from a “sell” rating to a “hold” rating and set a $526.00 price objective for the company in a research note on Thursday, July 25th. Robert W. Baird set a $600.00 price objective on Sherwin-Williams and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Susquehanna Bancshares raised their price objective on Sherwin-Williams from $545.00 to $580.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $525.40.

In related news, insider Peter J. Ippolito sold 5,284 shares of Sherwin-Williams stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $513.05, for a total transaction of $2,710,956.20. Following the completion of the sale, the insider now owns 4,284 shares of the company’s stock, valued at $2,197,906.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David F. Hodnik sold 501 shares of Sherwin-Williams stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $521.57, for a total value of $261,306.57. Following the sale, the director now directly owns 9,569 shares of the company’s stock, valued at approximately $4,990,903.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,121 shares of company stock valued at $6,134,153. Insiders own 0.50% of the company’s stock.

Shares of Sherwin-Williams stock traded up $1.30 during midday trading on Friday, hitting $540.25. The company’s stock had a trading volume of 13,176 shares, compared to its average volume of 406,886. The firm has a market capitalization of $49.98 billion, a P/E ratio of 29.14, a PEG ratio of 2.05 and a beta of 1.26. The stock has a 50-day simple moving average of $519.37 and a 200-day simple moving average of $464.42. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. Sherwin-Williams Co has a 1-year low of $355.28 and a 1-year high of $548.98.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.35 by $0.22. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Sherwin-Williams had a return on equity of 48.92% and a net margin of 6.61%. Sherwin-Williams’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.73 earnings per share. As a group, sell-side analysts predict that Sherwin-Williams Co will post 21.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a dividend of $1.13 per share. The ex-dividend date was Thursday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 0.84%. Sherwin-Williams’s payout ratio is 24.39%.

About Sherwin-Williams

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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