Altman Advisors Inc. Purchases New Stake in The Sherwin-Williams Company (NYSE:SHW)

Altman Advisors Inc. purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,016 shares of the specialty chemicals company’s stock, valued at approximately $1,914,000.

Several other hedge funds have also recently made changes to their positions in SHW. Valued Wealth Advisors LLC raised its stake in Sherwin-Williams by 88.9% in the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 32 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 45 shares during the period. First Personal Financial Services bought a new stake in Sherwin-Williams during the third quarter worth about $29,000. Semmax Financial Advisors Inc. grew its holdings in Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares during the period. Finally, VitalStone Financial LLC increased its stake in shares of Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $373.49 on Wednesday. The firm has a market cap of $94.06 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 3.05 and a beta of 1.17. The Sherwin-Williams Company has a fifty-two week low of $269.28 and a fifty-two week high of $392.57. 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 firm has a fifty day moving average price of $376.69 and a 200 day moving average price of $343.20.

Sherwin-Williams (NYSE:SHW) last issued its 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). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the firm posted $3.20 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

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 paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is presently 28.49%.

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The stock was 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 trade represents a 18.61 % 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHW shares. Barclays upped their price target on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets increased their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price target 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $396.47.

About Sherwin-Williams

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.