The Sherwin-Williams Company $SHW Stock: Fishman Jay A Ltd. MI Cuts Stake

Fishman Jay A Ltd. MI trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 31.6% during the 3rd quarter, Holdings Channel reports. The fund owned 5,605 shares of the specialty chemicals company’s stock after selling 2,595 shares during the period. Fishman Jay A Ltd. MI’s holdings in Sherwin-Williams were worth $1,812,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caisse de depot et placement du Quebec bought a new stake in Sherwin-Williams during the 2nd quarter valued at $5,473,000. William John Sempolinski bought a new position in shares of Sherwin-Williams in the 2nd quarter worth $2,456,000. Milestone Asset Management LLC bought a new position in shares of Sherwin-Williams in the 3rd quarter worth $3,153,000. BlackRock Inc. purchased a new stake in shares of Sherwin-Williams during the 2nd quarter worth $6,100,083,000. Finally, Royal Bank of Canada lifted its stake in shares of Sherwin-Williams by 9.8% during the 1st quarter. Royal Bank of Canada now owns 966,561 shares of the specialty chemicals company’s stock worth $309,832,000 after purchasing an additional 86,254 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 2.7%

SHW stock opened at $326.01 on Wednesday. The Sherwin-Williams Company has a 52 week low of $289.86 and a 52 week high of $377.77. The firm has a 50 day moving average of $330.66 and a 200 day moving average of $333.48.

Sherwin-Williams (NYSE:SHW) last released 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’s revenue for the quarter 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, analysts predict that The Sherwin-Williams Company will post 12.07 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, November 13th.

Insider Transactions at Sherwin-Williams

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

Key Sherwin-Williams News

Here are the key news stories impacting Sherwin-Williams this week:

• Positive Sentiment: Third-quarter revenue increased 7.9% year over year to $6.86 billion, exceeding the roughly $6.78 billion consensus estimate. Sherwin-Williams third-quarter financial results
• Positive Sentiment: Management highlighted resilient demand and continued growth across the business during the earnings call, supporting the longer-term investment case. Sherwin-Williams earnings call highlights
• Positive Sentiment: Evercore ISI upgraded Sherwin-Williams to Outperform ahead of the report, indicating some analysts see valuation or longer-term earnings potential as attractive. Evercore ISI upgrade

Analysts Set New Price Targets

Several equities analysts have issued reports on SHW shares. UBS Group set a $363.00 target price on Sherwin-Williams and gave the company a “neutral” rating in a research note on Monday, October 5th. Berenberg Bank increased their price target on shares of Sherwin-Williams from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Sherwin-Williams from $355.00 to $375.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Rothschild & Co Redburn raised their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Finally, Barclays set a $348.00 price objective on shares of Sherwin-Williams and gave the stock an “equal weight” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.17.

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.