Essex Savings Bank Increases Stake in The Sherwin-Williams Company (NYSE:SHW)

Essex Savings Bank grew its stake in The Sherwin-Williams Company (NYSE:SHW) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 880 shares of the specialty chemicals company’s stock after buying an additional 29 shares during the quarter. Essex Savings Bank’s holdings in Sherwin-Williams were worth $336,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SHW. Griffin Asset Management Inc. boosted its stake in Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after buying an additional 26 shares during the last quarter. Allworth Financial LP boosted its stake in Sherwin-Williams by 1.8% in the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after buying an additional 28 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Sherwin-Williams by 2.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after buying an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its stake in Sherwin-Williams by 1.9% in the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock worth $560,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SHW. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. The Goldman Sachs Group lifted their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Finally, Evercore ISI lifted their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW opened at $386.67 on Monday. The company has a market cap of $97.38 billion, a P/E ratio of 38.51, a PEG ratio of 3.12 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The Sherwin-Williams Company has a one year low of $251.69 and a one year high of $392.57. The business’s 50-day simple moving average is $374.21 and its 200 day simple moving average is $339.14.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data 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). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the firm earned $3.20 earnings per share. Sherwin-Williams’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a yield of 0.74%. Sherwin-Williams’s dividend payout ratio is presently 28.49%.

Insiders Place Their Bets

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

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.