Parnassus Investments LLC Lowers Position in The Sherwin-Williams Company (NYSE:SHW)

Parnassus Investments LLC reduced its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,430,906 shares of the specialty chemicals company's stock after selling 53,274 shares during the period. Sherwin-Williams makes up about 2.0% of Parnassus Investments LLC's holdings, making the stock its 21st biggest holding. Parnassus Investments LLC owned approximately 0.97% of Sherwin-Williams worth $927,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV increased its position in Sherwin-Williams by 13.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company's stock valued at $694,000 after acquiring an additional 209 shares during the period. Tamar Securities LLC boosted its position in shares of Sherwin-Williams by 3.4% in the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company's stock worth $18,608,000 after buying an additional 1,604 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Sherwin-Williams by 7.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company's stock worth $787,000 after buying an additional 193 shares during the period. Transcend Capital Advisors LLC boosted its position in shares of Sherwin-Williams by 24.1% in the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company's stock worth $2,329,000 after buying an additional 1,514 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company's stock valued at $37,449,000 after purchasing an additional 4,074 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Down 0.5 %

NYSE:SHW traded down $1.87 on Tuesday, reaching $373.49. 1,671,726 shares of the stock traded hands, compared to its average volume of 1,634,148. The company has a market capitalization of $94.06 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 3.05 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a 12 month low of $269.28 and a 12 month high of $392.57. The company's fifty day simple moving average is $376.65 and its 200 day simple moving average is $342.76.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts' consensus estimates of $3.56 by ($0.19). The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.20 earnings per share. Equities analysts predict that The Sherwin-Williams Company will post 11.32 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 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, November 15th. Sherwin-Williams's dividend payout ratio is currently 28.49%.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley raised their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Barclays boosted their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on shares of Sherwin-Williams from $455.00 to $446.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. KeyCorp restated a "sector weight" rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Finally, StockNews.com cut shares of Sherwin-Williams from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has a consensus rating of "Moderate Buy" and an average price target of $396.47.

Sherwin-Williams Company Profile

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.