Procyon Advisors LLC Has $898,000 Position in The Sherwin-Williams Company (NYSE:SHW)

Procyon Advisors LLC reduced its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,879 shares of the specialty chemicals company’s stock after selling 441 shares during the quarter. Procyon Advisors LLC’s holdings in Sherwin-Williams were worth $898,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Sherwin-Williams during the third quarter worth $25,000. Union Savings Bank bought a new stake in shares of Sherwin-Williams during the third quarter worth $28,000. Providence Capital Advisors LLC boosted its holdings in Sherwin-Williams by 44,853.3% in the first quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 6,728 shares during the last quarter. Lee Financial Co bought a new position in Sherwin-Williams in the third quarter valued at about $32,000. Finally, BluePath Capital Management LLC bought a new position in Sherwin-Williams in the third quarter valued at about $33,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock worth $10,340,237 in the last ninety days. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Stock Performance

Shares of NYSE SHW traded down $0.71 during midday trading on Thursday, hitting $346.18. 102,110 shares of the company’s stock were exchanged, compared to its average volume of 1,415,203. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. The Sherwin-Williams Company has a 12 month low of $211.91 and a 12 month high of $347.71. The company’s 50 day moving average price is $321.19 and its 200 day moving average price is $289.39. The firm has a market capitalization of $88.09 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, analysts predict that The Sherwin-Williams Company will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were paid a $0.715 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.61. This represents a $2.86 annualized dividend and a yield of 0.83%. Sherwin-Williams’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Robert W. Baird restated a “neutral” rating and set a $300.00 target price (up previously from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Wells Fargo & Company raised their target price on Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Wolfe Research initiated coverage on Sherwin-Williams in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Finally, JPMorgan Chase & Co. raised their price target on Sherwin-Williams from $285.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $320.39.

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.