Golden State Equity Partners Sells 325 Shares of The Sherwin-Williams Company (NYSE:SHW)

Golden State Equity Partners decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 12.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,329 shares of the specialty chemicals company’s stock after selling 325 shares during the quarter. Golden State Equity Partners’ holdings in Sherwin-Williams were worth $889,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PineStone Asset Management Inc. grew its holdings in shares of Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after purchasing an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Sherwin-Williams by 610.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after buying an additional 898,143 shares during the period. International Assets Investment Management LLC boosted its position in Sherwin-Williams by 40,317.4% during the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock valued at $277,361,000 after acquiring an additional 724,907 shares during the last quarter. Jensen Investment Management Inc. bought a new position in shares of Sherwin-Williams in the 2nd quarter worth about $169,770,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of Sherwin-Williams by 54.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after purchasing an additional 496,326 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW traded up $2.51 on Wednesday, reaching $364.13. 29,231 shares of the company’s stock were exchanged, compared to its average volume of 1,530,741. The stock has a fifty day simple moving average of $372.27 and a 200-day simple moving average of $335.73. The Sherwin-Williams Company has a 52 week low of $235.84 and a 52 week high of $392.57. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The firm has a market cap of $92.32 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.89 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. Sherwin-Williams’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $3.20 earnings per share. As a group, sell-side analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore ISI dropped their price target on Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada cut their target price on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $395.29.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

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.