The Sherwin-Williams Company $SHW Stock Position Cut by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in The Sherwin-Williams Company (NYSE:SHW) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 348,343 shares of the specialty chemicals company’s stock after selling 11,487 shares during the period. Fifth Third Bancorp’s holdings in Sherwin-Williams were worth $112,609,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SHW. Wilkerson Advisory Group LLC lifted its holdings in shares of Sherwin-Williams by 172.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 79 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 50 shares during the period. GK Wealth Management LLC bought a new stake in shares of Sherwin-Williams in the third quarter worth $25,000. Montgomery Financial Services LLC bought a new stake in shares of Sherwin-Williams in the second quarter worth $29,000. Tacita Capital Inc purchased a new stake in Sherwin-Williams during the second quarter valued at $30,000. Finally, Eastern Bank increased its position in Sherwin-Williams by 50.8% during the second quarter. Eastern Bank now owns 89 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 30 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHW has been the topic of a number of recent research reports. Weiss Ratings downgraded Sherwin-Williams from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. KeyCorp assumed coverage on Sherwin-Williams in a research note on Thursday, September 10th. They set a “sector weight” rating for the company. Deutsche Bank upped their price target on shares of Sherwin-Williams from $355.00 to $375.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Wells Fargo & Company set a $340.00 price objective on shares of Sherwin-Williams and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Finally, Guggenheim reissued a “buy” rating and issued a $375.00 price objective (down from $400.00) on shares of Sherwin-Williams in a report on Wednesday, October 28th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average target price of $377.29.

Insider Activity

In related news, insider Justin T. Binns sold 13,500 shares of the business’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 transaction of $4,761,450.00. Following the completion of the transaction, the insider directly owned 21,937 shares in the company, valued at approximately $7,737,179.90. The trade was a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO James P. Lang sold 1,309 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $361.91, for a total transaction of $473,740.19. Following the completion of the sale, the chief accounting officer directly owned 861 shares of the company’s stock, valued at $311,604.51. This represents a 60.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 22,315 shares of company stock worth $7,848,071. 0.23% of the stock is currently owned by corporate insiders.

Sherwin-Williams Trading Down 0.0%

NYSE:SHW opened at $355.23 on Thursday. The Sherwin-Williams Company has a one year low of $289.86 and a one year high of $377.77. The business has a fifty day moving average price of $330.77 and a 200-day moving average price of $333.10. The firm has a market capitalization of $85.82 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.71 and a quick ratio of 0.45.

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

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.20 annualized dividend and a dividend yield of 0.9%. Sherwin-Williams’s dividend payout ratio (DPR) is 29.41%.

Sherwin-Williams Company Profile

The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.