Pitcairn Co. Trims Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Pitcairn Co. lessened its holdings in The Sherwin-Williams Company (NYSE:SHW) by 26.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,810 shares of the specialty chemicals company’s stock after selling 1,705 shares during the quarter. Pitcairn Co.’s holdings in Sherwin-Williams were worth $1,836,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Sherwin-Williams by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after purchasing an additional 53,487 shares in the last quarter. PineStone Asset Management Inc. increased its stake in shares of Sherwin-Williams by 132.8% in 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 in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Sherwin-Williams by 18.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after purchasing an additional 238,031 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sherwin-Williams by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company’s stock valued at $542,387,000 after purchasing an additional 15,843 shares in the last quarter. Finally, 1832 Asset Management L.P. increased 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 in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’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 sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This represents a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the sale, the senior vice president now directly owns 6,329 shares in the company, valued at $2,396,349.27. This represents a 28.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Sherwin-Williams Trading Up 1.3 %

SHW opened at $388.30 on Friday. The Sherwin-Williams Company has a one year low of $272.34 and a one year high of $392.57. The stock has a market capitalization of $97.79 billion, a PE ratio of 38.68, a P/E/G ratio of 3.09 and a beta of 1.17. The business’s 50 day moving average price is $377.13 and its 200 day moving average price is $344.36. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW) last released 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). 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 for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the company earned $3.20 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts expect that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

The company 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 dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Wall Street Analysts Forecast Growth

SHW has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price target on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Robert W. Baird boosted their price objective on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI boosted their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. Finally, BMO Capital Markets boosted their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

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.