Ethic Inc. Reduces Position in The Sherwin-Williams Company $SHW

Ethic Inc. cut its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,743 shares of the specialty chemicals company’s stock after selling 506 shares during the period. Ethic Inc.’s holdings in Sherwin-Williams were worth $9,245,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Synergy Investment Management LLC boosted its position in shares of Sherwin-Williams by 583.3% during the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 70 shares during the last quarter. Valley National Advisers Inc. boosted its position in Sherwin-Williams by 68.0% in the second quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 34 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Sherwin-Williams in the first quarter worth about $30,000. Salomon & Ludwin LLC purchased a new position in Sherwin-Williams in the second quarter worth about $31,000. Finally, Saudi Central Bank purchased a new position in Sherwin-Williams in the first quarter worth about $33,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Down 1.4%

Shares of SHW opened at $333.87 on Thursday. The business’s 50 day moving average is $351.63 and its 200 day moving average is $347.78. The company has a market capitalization of $83.24 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 3.17 and a beta of 1.20. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $3.70 EPS. Research analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 14th. Sherwin-Williams’s dividend payout ratio (DPR) is 31.35%.

Insider Activity at Sherwin-Williams

In related news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $368.82, for a total transaction of $224,611.38. Following the sale, the insider owned 17,922 shares of the company’s stock, valued at approximately $6,609,992.04. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value of $301,301.00. Following the sale, the chief accounting officer directly owned 377 shares in the company, valued at $132,081.95. This trade represents a 69.52% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SHW has been the topic of several research reports. Loop Capital dropped their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets decreased their price objective on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI raised their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Mizuho decreased their price objective on Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $395.00 price objective on Sherwin-Williams and gave the stock an “overweight” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $387.13.

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.