South State Corp reduced its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670 shares of the specialty chemicals company’s stock after selling 188 shares during the quarter. South State Corp’s holdings in Sherwin-Williams were worth $305,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA bought a new stake in shares of Sherwin-Williams during the third quarter valued at approximately $112,000. CWM LLC boosted its stake in Sherwin-Williams by 115.4% in the third quarter. CWM LLC now owns 280 shares of the specialty chemicals company’s stock valued at $127,000 after acquiring an additional 150 shares during the last quarter. Fort L.P. bought a new position in Sherwin-Williams in the second quarter valued at approximately $124,000. Valeo Financial Advisors LLC boosted its stake in Sherwin-Williams by 168.6% in the second quarter. Valeo Financial Advisors LLC now owns 325 shares of the specialty chemicals company’s stock valued at $142,000 after acquiring an additional 204 shares during the last quarter. Finally, Townsend & Associates Inc bought a new position in Sherwin-Williams in the third quarter valued at approximately $148,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.
In other Sherwin-Williams news, SVP Thomas P. Gilligan sold 5,080 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $458.04, for a total value of $2,326,843.20. Following the sale, the senior vice president now directly owns 7,043 shares in the company, valued at $3,225,975.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John M. Stropki bought 675 shares of the business’s stock in a transaction on Monday, October 29th. The stock was purchased at an average price of $375.00 per share, for a total transaction of $253,125.00. The disclosure for this purchase can be found here. Company insiders own 0.78% of the company’s stock.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, October 25th. The specialty chemicals company reported $5.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.71 by ($0.03). The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. Sherwin-Williams had a return on equity of 45.22% and a net margin of 10.92%. Research analysts predict that Sherwin-Williams Co will post 19.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.44 annualized dividend and a yield of 0.81%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 24.11%.
SHW has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $485.00 price objective on shares of Sherwin-Williams in a research note on Wednesday, July 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $465.00 price objective on shares of Sherwin-Williams in a research note on Wednesday, July 25th. Credit Suisse Group raised their price objective on shares of Sherwin-Williams from $457.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, July 25th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $450.00 price objective (up from $410.00) on shares of Sherwin-Williams in a research note on Wednesday, July 25th. Finally, Bank of America raised their price objective on shares of Sherwin-Williams from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Ten investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Sherwin-Williams currently has a consensus rating of “Buy” and an average target price of $467.40.
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Sherwin-Williams Company Profile
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.
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