CNB Bank Sells 140 Shares of The Sherwin-Williams Company $SHW

CNB Bank lessened its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,531 shares of the specialty chemicals company’s stock after selling 140 shares during the quarter. CNB Bank’s holdings in Sherwin-Williams were worth $869,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Sherwin-Williams by 21.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company’s stock valued at $3,023,126,000 after purchasing an additional 1,505,341 shares in the last quarter. Nuveen LLC bought a new stake in Sherwin-Williams in the first quarter worth $265,510,000. Assenagon Asset Management S.A. boosted its stake in Sherwin-Williams by 601.0% during the second quarter. Assenagon Asset Management S.A. now owns 839,756 shares of the specialty chemicals company’s stock worth $288,339,000 after buying an additional 719,965 shares during the period. National Bank of Canada FI boosted its stake in Sherwin-Williams by 223.1% during the first quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company’s stock worth $214,883,000 after buying an additional 424,930 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in Sherwin-Williams by 367.9% during the first quarter. Alyeska Investment Group L.P. now owns 537,216 shares of the specialty chemicals company’s stock worth $187,590,000 after buying an additional 422,410 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Up 0.6%

NYSE SHW opened at $333.64 on Friday. The business has a fifty day moving average price of $350.33 and a 200 day moving average price of $347.98. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The company has a market cap of $83.19 billion, a P/E ratio of 33.10, a P/E/G ratio of 3.11 and a beta of 1.20.

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

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 14th. Sherwin-Williams’s payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. BMO Capital Markets lowered their price objective on shares of Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Evercore ISI boosted their target price on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Wells Fargo & Company set a $395.00 target price on shares of Sherwin-Williams and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Sherwin-Williams in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.13.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction 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 transaction, the insider owned 17,922 shares in the company, valued at $6,609,992.04. The trade was a 3.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the transaction, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

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.