The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its holdings in The Sherwin-Williams Company (NYSE:SHW) by 24.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,900 shares of the specialty chemicals company’s stock after selling 1,600 shares during the period. Cornerstone Advisors LLC’s holdings in Sherwin-Williams were worth $1,462,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC grew its holdings 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 purchasing an additional 45 shares in the last quarter. VitalStone Financial LLC grew its holdings in Sherwin-Williams by 233.3% during the 2nd 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. Anfield Capital Management LLC acquired a new stake in Sherwin-Williams during the 2nd quarter valued at $38,000. Meeder Asset Management Inc. acquired a new stake in Sherwin-Williams during the 2nd quarter valued at $41,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Sherwin-Williams during the 1st quarter valued at $47,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SHW. The Goldman Sachs Group increased their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $418.00 price objective on shares of Sherwin-Williams in a research note on Friday, August 30th. Evercore ISI increased their price objective on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $400.00 price target (up from $386.00) on shares of Sherwin-Williams in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $362.68.

Sherwin-Williams Stock Up 1.0 %

Sherwin-Williams stock opened at $379.14 on Tuesday. The stock has a market cap of $96.13 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.94 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The company’s 50-day moving average price is $348.33 and its two-hundred day moving average price is $327.03. The Sherwin-Williams Company has a 52 week low of $232.06 and a 52 week high of $380.13.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. Sherwin-Williams’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $3.29 EPS. On average, analysts expect that The Sherwin-Williams Company will post 11.47 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.75%. Sherwin-Williams’s payout ratio is 30.49%.

Insider Transactions at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred 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 transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.