Carnegie Investment Counsel Sells 4,457 Shares of The Sherwin-Williams Company $SHW

Carnegie Investment Counsel lessened its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,529 shares of the specialty chemicals company’s stock after selling 4,457 shares during the quarter. Sherwin-Williams makes up about 1.1% of Carnegie Investment Counsel’s portfolio, making the stock its 16th biggest position. Carnegie Investment Counsel owned approximately 0.07% of Sherwin-Williams worth $56,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Valley Brook Capital Group Inc. boosted its position in Sherwin-Williams by 2.4% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 1,311 shares of the specialty chemicals company’s stock valued at $450,000 after acquiring an additional 31 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in Sherwin-Williams by 3.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,096 shares of the specialty chemicals company’s stock valued at $362,000 after acquiring an additional 33 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Sherwin-Williams by 41.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 33 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Sherwin-Williams by 1.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,655 shares of the specialty chemicals company’s stock worth $927,000 after purchasing an additional 33 shares in the last quarter. Finally, Beacon Financial Group boosted its position in shares of Sherwin-Williams by 5.1% in the 2nd quarter. Beacon Financial Group now owns 684 shares of the specialty chemicals company’s stock worth $235,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup reissued a “neutral” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Sherwin-Williams in a research report on Monday, October 6th. UBS Group reissued a “buy” rating and issued a $400.00 price objective (up previously from $395.00) on shares of Sherwin-Williams in a research report on Monday, October 6th. Bank of America lowered their price objective on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. BMO Capital Markets lowered their price objective on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $387.13.

Insider Transactions at Sherwin-Williams

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

Sherwin-Williams Stock Performance

Shares of SHW opened at $331.30 on Friday. The stock has a 50-day moving average of $350.94 and a two-hundred day moving average of $347.84. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. 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 stock has a market cap of $82.60 billion, a P/E ratio of 32.87, a P/E/G ratio of 3.13 and a beta of 1.20.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the firm posted $3.70 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.16 dividend on an annualized basis and a yield of 1.0%. Sherwin-Williams’s payout ratio is currently 31.35%.

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.