Saybrook Capital NC Trims Stock Holdings in The Sherwin-Williams Company $SHW

Saybrook Capital NC lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,104 shares of the specialty chemicals company’s stock after selling 985 shares during the period. Sherwin-Williams makes up 5.4% of Saybrook Capital NC’s portfolio, making the stock its 8th biggest position. Saybrook Capital NC’s holdings in Sherwin-Williams were worth $19,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHW. Price T Rowe Associates Inc. MD boosted its holdings in Sherwin-Williams by 21.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company’s stock worth $3,023,126,000 after buying an additional 1,505,341 shares during the last quarter. Nuveen LLC bought a new position in Sherwin-Williams during the first quarter worth about $265,510,000. Assenagon Asset Management S.A. boosted its holdings in Sherwin-Williams by 601.0% during the second quarter. Assenagon Asset Management S.A. now owns 839,756 shares of the specialty chemicals company’s stock worth $288,339,000 after buying an additional 719,965 shares during the last quarter. National Bank of Canada FI raised its position in shares of Sherwin-Williams by 223.1% during the first quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company’s stock worth $214,883,000 after purchasing an additional 424,930 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Sherwin-Williams by 367.9% during the first quarter. Alyeska Investment Group L.P. now owns 537,216 shares of the specialty chemicals company’s stock worth $187,590,000 after purchasing an additional 422,410 shares during the period. Institutional investors own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin T. Binns sold 609 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $368.82, for a total value of $224,611.38. Following the completion of the sale, the insider owned 17,922 shares in the company, valued at $6,609,992.04. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHW. BMO Capital Markets dropped their price target on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Loop Capital dropped their price target on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price target on Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Mizuho dropped their price target on Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Finally, Bank of America dropped their price target on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. 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’s stock. According to MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus price target of $387.13.

Sherwin-Williams Trading Up 0.6%

NYSE SHW opened at $333.64 on Friday. The stock has a market capitalization of $83.19 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 3.13 and a beta of 1.20. The stock’s 50 day moving average price is $350.33 and its two-hundred day moving average price is $348.22. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $400.42.

Sherwin-Williams Announces Dividend

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

Sherwin-Williams 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.