Atreides Management LP Decreases Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Atreides Management LP trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 57.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,634 shares of the specialty chemicals company’s stock after selling 128,317 shares during the quarter. Sherwin-Williams comprises about 0.9% of Atreides Management LP’s investment portfolio, making the stock its 28th largest holding. Atreides Management LP’s holdings in Sherwin-Williams were worth $36,119,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sherwin-Williams during the third quarter valued at about $2,487,000. Kestra Investment Management LLC acquired a new position in shares of Sherwin-Williams during the third quarter valued at about $227,000. Point72 Hong Kong Ltd increased its holdings in shares of Sherwin-Williams by 130.0% during the third quarter. Point72 Hong Kong Ltd now owns 33,725 shares of the specialty chemicals company’s stock valued at $12,872,000 after acquiring an additional 19,059 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Sherwin-Williams during the third quarter valued at about $32,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Sherwin-Williams during the third quarter valued at about $41,232,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Up 0.9 %

Sherwin-Williams stock opened at $397.40 on Monday. 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 12 month low of $272.34 and a 12 month high of $400.42. The stock’s 50 day simple moving average is $378.94 and its two-hundred day simple moving average is $347.31. The firm has a market cap of $100.09 billion, a PE ratio of 39.58, a P/E/G ratio of 3.20 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 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 company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the company posted $3.20 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Analysts anticipate that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.72%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Analyst Ratings Changes

SHW has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Royal Bank of Canada cut their price objective on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. Barclays upped their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday. One 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 company. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average target price of $396.47.

Insider Activity

In other news, SVP Mary L. Garceau sold 15,770 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the transaction, the senior vice president now owns 29,205 shares in the company, valued at $11,621,253.60. This trade represents a 35.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. This trade represents a 28.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.