Synovus Financial Corp Decreases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Synovus Financial Corp decreased its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 11.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,729 shares of the specialty chemicals company's stock after selling 1,628 shares during the period. Synovus Financial Corp's holdings in Sherwin-Williams were worth $4,858,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SHW. Valued Wealth Advisors LLC increased its position in shares of Sherwin-Williams by 88.9% in the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 32 shares during the period. HHM Wealth Advisors LLC increased its stake in shares of Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company's stock valued at $27,000 after buying an additional 45 shares during the period. First Personal Financial Services bought a new stake in Sherwin-Williams in the third quarter valued at $29,000. Semmax Financial Advisors Inc. increased its position in Sherwin-Williams by 136.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company's stock valued at $31,000 after purchasing an additional 60 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Sherwin-Williams in the 3rd quarter worth $32,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHW has been the subject of several recent research reports. Jefferies Financial Group raised their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a "buy" rating in a research report on Monday, August 26th. KeyCorp reissued a "sector weight" rating on shares of Sherwin-Williams in a research report on Monday, October 7th. UBS Group reiterated an "underperform" rating on shares of Sherwin-Williams in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an "outperform" rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $396.47.

Insiders Place Their Bets

In other Sherwin-Williams news, SVP Mary L. Garceau sold 15,770 shares of Sherwin-Williams stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the transaction, the senior vice president now directly owns 29,205 shares of the company's stock, valued at $11,621,253.60. This trade represents a 35.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,396,349.27. This trade represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Price Performance

SHW stock traded down $2.35 during trading on Friday, reaching $364.50. The company's stock had a trading volume of 1,118,837 shares, compared to its average volume of 1,640,481. The company's fifty day moving average is $379.11 and its 200-day moving average is $351.78. The Sherwin-Williams Company has a 1 year low of $282.09 and a 1 year high of $400.42. The company has a market capitalization of $91.80 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 3.00 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (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 for the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the business posted $3.20 EPS. The firm's revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a $0.715 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.78%. Sherwin-Williams's dividend payout ratio is currently 28.49%.

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.