The Sherwin-Williams Company $SHW Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,082,003 shares of the specialty chemicals company’s stock after purchasing an additional 19,618 shares during the period. Envestnet Asset Management Inc.’s holdings in Sherwin-Williams were worth $371,516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley National Advisers Inc. increased its holdings in shares of Sherwin-Williams by 68.0% during the 2nd quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. Synergy Investment Management LLC boosted its position in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Sherwin-Williams during the 1st quarter worth $30,000. Salomon & Ludwin LLC purchased a new stake in Sherwin-Williams during the 2nd quarter worth $31,000. Finally, Saudi Central Bank purchased a new stake in Sherwin-Williams during the 1st quarter worth $33,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Mizuho decreased their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price target on shares of Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 26th. Loop Capital decreased their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Citigroup reissued a “neutral” rating and issued a $380.00 price objective (up from $375.00) on shares of Sherwin-Williams in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $387.13.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $333.64 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The firm has a 50-day moving average of $350.33 and a two-hundred day moving average of $348.30. The stock has a market cap of $83.19 billion, a P/E ratio of 33.10, a PEG ratio of 3.13 and a beta of 1.20. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 14th. Sherwin-Williams’s dividend payout ratio is 31.35%.

Insider Transactions at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $368.82, for a total value of $224,611.38. Following the sale, the insider owned 17,922 shares in the company, valued at approximately $6,609,992.04. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO James P. Lang sold 860 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the completion of the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. This trade represents a 69.52% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

About Sherwin-Williams

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.