The Sherwin-Williams Company $SHW Stock Position Boosted by Welch Group LLC

Welch Group LLC lifted its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,043 shares of the specialty chemicals company’s stock after buying an additional 2,052 shares during the period. Welch Group LLC’s holdings in Sherwin-Williams were worth $10,682,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SHW. Caisse de depot et placement du Quebec acquired a new stake in shares of Sherwin-Williams in the second quarter valued at approximately $5,473,000. Milestone Asset Management LLC acquired a new position in shares of Sherwin-Williams during the 3rd quarter worth approximately $3,153,000. William John Sempolinski bought a new stake in Sherwin-Williams in the 2nd quarter valued at $2,456,000. BlackRock Inc. acquired a new stake in Sherwin-Williams during the 2nd quarter valued at $6,100,083,000. Finally, Royal Bank of Canada lifted its holdings in Sherwin-Williams by 9.8% during the 1st quarter. Royal Bank of Canada now owns 966,561 shares of the specialty chemicals company’s stock valued at $309,832,000 after purchasing an additional 86,254 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHW. Royal Bank Of Canada dropped their price target on Sherwin-Williams from $392.00 to $383.00 and set an “outperform” rating for the company in a report on Thursday. UBS Group reissued a “neutral” rating and issued a $370.00 target price (up from $363.00) on shares of Sherwin-Williams in a research report on Wednesday. Argus boosted their price objective on shares of Sherwin-Williams from $355.00 to $380.00 in a report on Thursday, August 27th. DA Davidson set a $390.00 target price on shares of Sherwin-Williams and gave the stock a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sherwin-Williams in a research report on Monday, September 28th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.29.

Sherwin-Williams Trading Up 0.1%

Shares of SHW stock opened at $332.95 on Monday. The Sherwin-Williams Company has a fifty-two week low of $289.86 and a fifty-two week high of $377.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.45 and a current ratio of 0.71. The stock has a 50 day simple moving average of $329.41 and a two-hundred day simple moving average of $333.14. The company has a market cap of $80.44 billion, a P/E ratio of 30.60, a PEG ratio of 2.77 and a beta of 1.08.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 EPS for the quarter, missing analysts’ consensus estimates of $3.69 by ($0.06). Sherwin-Williams had a net margin of 10.74% and a return on equity of 69.51%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.78 billion. During the same quarter last year, the firm posted $3.59 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts forecast that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.20 annualized dividend and a yield of 1.0%. Sherwin-Williams’s dividend payout ratio (DPR) is 29.41%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the transaction, the insider directly owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. This trade represents a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Justin Binns sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $352.70, for a total value of $4,761,450.00. Following the transaction, the insider owned 21,937 shares in the company, valued at approximately $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by company insiders.

Sherwin-Williams Company Profile

The Sherwin-Williams Company (NYSE: SHW) develops, manufactures, distributes and sells paints, coatings and related products. Its offerings include architectural paints, industrial coatings, wood finishes, protective coatings, automotive refinishing products, floor coatings and related supplies marketed under brands such as Sherwin-Williams, Valspar, Minwax, Krylon and Dutch Boy.

Founded in 1866 and headquartered in Cleveland, Ohio, Sherwin-Williams serves professional contractors, do-it-yourself consumers, industrial manufacturers, commercial businesses and other customers.