JPMorgan Chase & Co. decreased its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,580,665 shares of the specialty chemicals company's stock after selling 122,681 shares during the period. JPMorgan Chase & Co. owned 0.63% of Sherwin-Williams worth $603,293,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its stake in Sherwin-Williams by 18.2% during the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company's stock worth $2,474,238,000 after buying an additional 999,164 shares during the period. Geode Capital Management LLC boosted its position in shares of Sherwin-Williams by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,733,131 shares of the specialty chemicals company's stock worth $1,799,196,000 after purchasing an additional 58,463 shares during the period. Legal & General Group Plc raised its position in Sherwin-Williams by 2.9% in the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company's stock valued at $573,538,000 after purchasing an additional 53,487 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Sherwin-Williams by 18.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company's stock worth $454,917,000 after purchasing an additional 238,031 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Sherwin-Williams by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company's stock valued at $542,387,000 after buying an additional 15,843 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on SHW shares. Wells Fargo & Company raised their target price on Sherwin-Williams from $350.00 to $400.00 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Morgan Stanley upped their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Evercore ISI raised their price target on shares of Sherwin-Williams from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on Sherwin-Williams from $455.00 to $446.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Finally, KeyCorp reissued a "sector weight" rating on shares of Sherwin-Williams in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $397.63.
View Our Latest Report on Sherwin-Williams
Insider Buying and Selling at Sherwin-Williams
In other news, SVP Gregory P. Sofish sold 2,565 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mary L. Garceau sold 15,770 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the sale, the senior vice president now owns 29,205 shares of the company's stock, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.
Sherwin-Williams Stock Performance
NYSE SHW traded down $2.22 on Friday, reaching $343.29. The stock had a trading volume of 881,748 shares, compared to its average volume of 1,635,816. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The stock has a market cap of $86.46 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.94 and a beta of 1.19. The business's 50-day moving average price is $372.62 and its 200 day moving average price is $355.53. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42.
Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter last year, the company earned $3.20 EPS. The firm's revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.
Sherwin-Williams Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, November 15th. Sherwin-Williams's dividend payout ratio (DPR) is presently 28.49%.
About Sherwin-Williams
(
Free Report)
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.
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