TAP Consulting LLC Reduces Stock Position in The Sherwin-Williams Company (NYSE:SHW)

TAP Consulting LLC lessened its holdings in The Sherwin-Williams Company (NYSE:SHW) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,018 shares of the specialty chemicals company’s stock after selling 77 shares during the period. TAP Consulting LLC’s holdings in Sherwin-Williams were worth $2,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in shares of Sherwin-Williams in the third quarter valued at approximately $25,000. Union Savings Bank purchased a new stake in shares of Sherwin-Williams in the 3rd quarter worth $28,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Sherwin-Williams during the 4th quarter worth $35,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at $36,000. Finally, Lee Financial Co bought a new stake in shares of Sherwin-Williams in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

SHW stock traded up $1.07 during midday trading on Thursday, reaching $304.80. The stock had a trading volume of 2,004,847 shares, compared to its average volume of 1,461,671. The firm has a fifty day simple moving average of $328.10 and a two-hundred day simple moving average of $298.81. The Sherwin-Williams Company has a 52-week low of $221.76 and a 52-week high of $348.37. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market cap of $77.56 billion, a PE ratio of 32.49, a P/E/G ratio of 2.39 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the previous year, the firm posted $2.04 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Sherwin-Williams Company will post 11.46 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.94%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SHW shares. Citigroup cut their target price on shares of Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho reduced their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research note on Wednesday. Loop Capital dropped their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday. KeyCorp upgraded Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price target on the stock in a report on Thursday. Finally, Evercore ISI decreased their price objective on Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $337.37.

Insider Transactions at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now directly owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 over the last quarter. 0.60% of the stock is currently owned by insiders.

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.