Metropolitan Life Insurance Co NY lowered its holdings in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,227 shares of the specialty chemicals company’s stock after selling 321 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Sherwin-Williams were worth $2,715,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arbor Capital Management Inc. ADV raised its position in Sherwin-Williams by 1.0% in the second quarter. Arbor Capital Management Inc. ADV now owns 3,884 shares of the specialty chemicals company’s stock worth $1,024,000 after purchasing an additional 38 shares in the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Sherwin-Williams by 1.8% in the 2nd quarter. TrinityPoint Wealth LLC now owns 2,255 shares of the specialty chemicals company’s stock worth $599,000 after buying an additional 39 shares in the last quarter. Archer Investment Corp lifted its position in shares of Sherwin-Williams by 19.5% during the 2nd quarter. Archer Investment Corp now owns 239 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 39 shares during the period. Financial Gravity Asset Management Inc. boosted its stake in Sherwin-Williams by 0.3% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 13,028 shares of the specialty chemicals company’s stock valued at $5,631,000 after buying an additional 41 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services grew its position in Sherwin-Williams by 0.4% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 10,777 shares of the specialty chemicals company’s stock valued at $2,862,000 after acquiring an additional 43 shares during the period. Institutional investors own 75.87% of the company’s stock.
Insider Buying and Selling
In other news, CEO John G. Morikis bought 2,125 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were bought at an average cost of $237.60 per share, for a total transaction of $504,900.00. Following the completion of the acquisition, the chief executive officer now owns 317,270 shares in the company, valued at approximately $75,383,352. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by insiders.
Sherwin-Williams Price Performance
Sherwin-Williams (NYSE:SHW – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.43. Sherwin-Williams had a return on equity of 78.92% and a net margin of 10.50%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6 billion. As a group, analysts anticipate that The Sherwin-Williams Company will post 10.3 earnings per share for the current year.
Sherwin-Williams Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a $0.605 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 0.89%. Sherwin-Williams’s dividend payout ratio is 25.91%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on SHW shares. Barclays upped their target price on shares of Sherwin-Williams from $240.00 to $285.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 25th. Wells Fargo & Company decreased their price objective on shares of Sherwin-Williams from $300.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, August 25th. Citigroup cut their target price on shares of Sherwin-Williams from $310.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets increased their price target on Sherwin-Williams from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Sherwin-Williams from $315.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and a consensus target price of $287.44.
The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through 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.
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