Cornerstone Advisors LLC Purchases 2,100 Shares of The Sherwin-Williams Company (NYSE:SHW)

Cornerstone Advisors LLC grew its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 42.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,000 shares of the specialty chemicals company’s stock after buying an additional 2,100 shares during the quarter. Cornerstone Advisors LLC’s holdings in Sherwin-Williams were worth $2,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Nations Financial Group Inc. IA ADV lifted its position in shares of Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock worth $694,000 after purchasing an additional 209 shares during the last quarter. Tamar Securities LLC boosted its position in Sherwin-Williams by 3.4% in the 3rd quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after buying an additional 1,604 shares during the period. Valeo Financial Advisors LLC grew its stake in Sherwin-Williams by 7.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after acquiring an additional 193 shares in the last quarter. Transcend Capital Advisors LLC increased its position in shares of Sherwin-Williams by 24.1% during the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after acquiring an additional 1,514 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after acquiring an additional 4,074 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction 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 sale, the chief financial officer now owns 63,520 shares in the company, valued at $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 is available through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,396,349.27. This represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI raised their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada cut their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group raised their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

Sherwin-Williams Stock Up 3.1 %

NYSE:SHW opened at $383.32 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a twelve month low of $272.34 and a twelve month high of $392.57. The company has a market cap of $96.54 billion, a PE ratio of 38.18, a P/E/G ratio of 3.01 and a beta of 1.17. The company’s 50 day moving average is $376.87 and its two-hundred day moving average is $343.67.

Sherwin-Williams (NYSE:SHW) last released 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 net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company earned $3.20 earnings per share. Sherwin-Williams’s revenue was up .7% on a year-over-year basis. Analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

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

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.