47,813 The Sherwin-Williams Company $SHW Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW) by 8.0% in the 3rd quarter, Holdings Channel reports. The fund owned 551,143 shares of the specialty chemicals company’s stock after selling 47,813 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sherwin-Williams were worth $178,911,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Sherwin-Williams during the second quarter worth about $6,100,083,000. Wellington Management Group LLP increased its stake in shares of Sherwin-Williams by 133.7% during the second quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company’s stock valued at $958,821,000 after purchasing an additional 1,593,009 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Sherwin-Williams during the second quarter valued at approximately $547,097,000. Legal & General Group Plc purchased a new position in shares of Sherwin-Williams during the second quarter valued at approximately $459,652,000. Finally, Bank of America Corp DE bought a new stake in shares of Sherwin-Williams in the 2nd quarter worth approximately $412,339,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP James R. Jaye sold 2,301 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $345.56, for a total value of $795,133.56. Following the transaction, the senior vice president owned 6,936 shares in the company, valued at $2,396,804.16. This represents a 24.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mary L. Garceau sold 3,891 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $350.42, for a total transaction of $1,363,484.22. Following the completion of the transaction, the senior vice president directly owned 31,466 shares in the company, valued at approximately $11,026,315.72. The trade was a 11.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,315 shares of company stock valued at $7,848,071 over the last ninety days. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHW shares. JPMorgan Chase & Co. cut their price target on Sherwin-Williams from $380.00 to $375.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Rothschild & Co Redburn lifted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Barclays set a $329.00 target price on Sherwin-Williams and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. Argus increased their target price on Sherwin-Williams from $355.00 to $380.00 in a research note on Thursday, August 27th. Finally, Wells Fargo & Company set a $340.00 price target on Sherwin-Williams and gave the company an “equal weight” rating in a report on Friday, September 25th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.29.

Sherwin-Williams Stock Down 1.4%

SHW stock opened at $350.81 on Friday. The Sherwin-Williams Company has a 1-year low of $289.86 and a 1-year high of $377.77. The business has a fifty day moving average price of $331.16 and a 200-day moving average price of $333.11. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.71 and a quick ratio of 0.45. The stock has a market capitalization of $84.75 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.96 and a beta of 1.05.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share (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 period in the previous year, the company earned $3.59 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts forecast that The Sherwin-Williams Company will post 12.02 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

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

About Sherwin-Williams

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.