The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW) by 5.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 714 shares of the specialty chemicals company’s stock after selling 40 shares during the period. Gateway Investment Advisers LLC’s holdings in Sherwin-Williams were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Manchester Capital Management LLC boosted its stake in Sherwin-Williams by 5.5% in the 4th quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock worth $208,000 after buying an additional 35 shares during the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of Sherwin-Williams by 0.7% in the 1st quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock valued at $1,706,000 after purchasing an additional 35 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Sherwin-Williams by 3.5% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,097 shares of the specialty chemicals company’s stock valued at $342,000 after purchasing an additional 37 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Sherwin-Williams by 3.4% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,140 shares of the specialty chemicals company’s stock valued at $396,000 after purchasing an additional 37 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its stake in shares of Sherwin-Williams by 3.7% in the 1st quarter. Nicolet Advisory Services LLC now owns 1,033 shares of the specialty chemicals company’s stock valued at $346,000 after purchasing an additional 37 shares in the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Stock Performance

NYSE:SHW traded up $2.93 during midday trading on Friday, reaching $345.64. 1,763,139 shares of the company traded hands, compared to its average volume of 1,627,193. The Sherwin-Williams Company has a twelve month low of $232.06 and a twelve month high of $356.69. The firm has a market capitalization of $87.19 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The company has a fifty day moving average price of $315.65 and a 200 day moving average price of $317.93.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts expect that The Sherwin-Williams Company will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a dividend of $0.715 per share. The ex-dividend date is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.83%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SHW. Citigroup reduced their price objective on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Evercore ISI raised their target price on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. BMO Capital Markets raised their target price on Sherwin-Williams from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $355.00.

Sherwin-Williams Profile

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.