Sherwin-Williams Co (NYSE:SHW) Shares Sold by Rockland Trust Co.

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Rockland Trust Co. reduced its holdings in Sherwin-Williams Co (NYSE:SHW) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,147 shares of the specialty chemicals company’s stock after selling 451 shares during the period. Sherwin-Williams comprises 1.3% of Rockland Trust Co.’s holdings, making the stock its 23rd largest position. Rockland Trust Co.’s holdings in Sherwin-Williams were worth $14,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SHW. Vanguard Group Inc. increased its holdings in shares of Sherwin-Williams by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,262,410 shares of the specialty chemicals company’s stock worth $3,328,290,000 after purchasing an additional 51,401 shares during the period. BlackRock Inc. increased its holdings in shares of Sherwin-Williams by 1.7% during the 2nd quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock worth $2,534,464,000 after purchasing an additional 90,828 shares during the period. Northern Trust Corp increased its holdings in shares of Sherwin-Williams by 6.0% during the 2nd quarter. Northern Trust Corp now owns 940,308 shares of the specialty chemicals company’s stock worth $430,934,000 after purchasing an additional 53,369 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Sherwin-Williams by 10,335.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 910,704 shares of the specialty chemicals company’s stock worth $417,367,000 after purchasing an additional 901,977 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Sherwin-Williams by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 636,790 shares of the specialty chemicals company’s stock worth $291,833,000 after purchasing an additional 6,113 shares during the period. 76.67% of the stock is currently owned by institutional investors.

In other news, insider Peter J. Ippolito sold 5,284 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $513.05, for a total transaction of $2,710,956.20. Following the transaction, the insider now directly owns 4,284 shares in the company, valued at $2,197,906.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David F. Hodnik sold 501 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $521.57, for a total transaction of $261,306.57. Following the transaction, the director now owns 9,569 shares in the company, valued at $4,990,903.33. The disclosure for this sale can be found here. Insiders have sold 12,121 shares of company stock worth $6,134,153 over the last ninety days. Insiders own 0.50% of the company’s stock.

A number of analysts recently weighed in on the stock. Deutsche Bank upped their target price on shares of Sherwin-Williams from $490.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Sherwin-Williams from $435.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. UBS Group upped their target price on shares of Sherwin-Williams from $475.00 to $555.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley set a $600.00 target price on shares of Sherwin-Williams and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Northcoast Research reissued a “neutral” rating on shares of Sherwin-Williams in a research note on Monday, July 29th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Sherwin-Williams currently has a consensus rating of “Buy” and a consensus target price of $540.58.

Sherwin-Williams stock traded up $1.79 during trading hours on Friday, hitting $560.49. 8,657 shares of the stock were exchanged, compared to its average volume of 446,683. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.50 and a current ratio of 0.80. The stock has a market capitalization of $50.37 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.14 and a beta of 1.27. Sherwin-Williams Co has a 12 month low of $355.28 and a 12 month high of $558.85. The business’s 50-day moving average is $536.12 and its two-hundred day moving average is $480.58.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.35 by $0.22. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.73 earnings per share. On average, equities analysts predict that Sherwin-Williams Co will post 21.12 earnings per share for the current fiscal year.

About Sherwin-Williams

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

Further Reading: Basic Economics

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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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