The Sherwin-Williams Company (NYSE:SHW) Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in The Sherwin-Williams Company (NYSE:SHW) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 353,785 shares of the specialty chemicals company’s stock after selling 27,758 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.14% of Sherwin-Williams worth $135,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tamar Securities LLC lifted its position in shares of Sherwin-Williams by 3.4% in the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after buying an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Sherwin-Williams by 7.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 193 shares during the period. Transcend Capital Advisors LLC increased its stake in Sherwin-Williams by 24.1% in the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after acquiring an additional 1,514 shares during the period. Handelsbanken Fonder AB boosted its stake in Sherwin-Williams by 4.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after buying an additional 4,074 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Sherwin-Williams by 11.6% in the 1st quarter. Park Avenue Securities LLC now owns 4,331 shares of the specialty chemicals company’s stock worth $1,504,000 after acquiring an additional 449 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 0.2 %

SHW stock traded down $0.72 during trading on Friday, hitting $388.36. The company had a trading volume of 1,280,307 shares, compared to its average volume of 1,529,468. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $98.47 billion, a P/E ratio of 41.40, a PEG ratio of 3.01 and a beta of 1.17. The company has a 50 day simple moving average of $370.58 and a 200-day simple moving average of $333.88. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $392.57.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the firm posted $3.29 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts forecast that The Sherwin-Williams Company will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $418.00 target price on shares of Sherwin-Williams in a research note on Friday, August 30th. Wells Fargo & Company upped their price target on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a report on Friday. Finally, Robert W. Baird increased their price objective on Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $383.35.

Insider Activity at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Company 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.