1776 Wealth LLC Cuts Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

1776 Wealth LLC lessened its stake in The Sherwin-Williams Company (NYSE:SHW) by 6.5% during the third quarter, Holdings Channel reports. The firm owned 1,848 shares of the specialty chemicals company’s stock after selling 129 shares during the period. 1776 Wealth LLC’s holdings in Sherwin-Williams were worth $705,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Tocqueville Asset Management L.P. purchased a new stake in Sherwin-Williams during the 1st quarter worth $254,000. M&G Plc acquired a new stake in Sherwin-Williams in the first quarter valued at approximately $8,368,000. First Foundation Advisors raised its stake in shares of Sherwin-Williams by 15.5% during the first quarter. First Foundation Advisors now owns 2,816 shares of the specialty chemicals company’s stock valued at $978,000 after purchasing an additional 378 shares during the period. Nicolet Advisory Services LLC lifted its position in shares of Sherwin-Williams by 3.7% during the first quarter. Nicolet Advisory Services LLC now owns 1,033 shares of the specialty chemicals company’s stock worth $346,000 after purchasing an additional 37 shares in the last quarter. Finally, Cornerstone Advisors LLC purchased a new position in shares of Sherwin-Williams in the first quarter valued at $2,258,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SHW shares. Wells Fargo & Company boosted their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup cut their price target on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Royal Bank of Canada dropped their price objective on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Morgan Stanley increased their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $396.47.

Sherwin-Williams Stock Performance

NYSE SHW traded down $8.74 during trading hours on Friday, reaching $378.99. The company’s stock had a trading volume of 1,722,807 shares, compared to its average volume of 1,634,530. The stock has a market cap of $95.45 billion, a PE ratio of 37.75, a PEG ratio of 3.12 and a beta of 1.17. The business has a 50-day simple moving average of $376.42 and a 200 day simple moving average of $341.69. The Sherwin-Williams Company has a 52 week low of $264.54 and a 52 week high of $392.57. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business posted $3.20 EPS. Equities research analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is 28.49%.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is 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.