Cornerstone Advisors LLC Boosts Position in The Sherwin-Williams Company (NYSE:SHW)

Cornerstone Advisors LLC lifted its position in The Sherwin-Williams Company (NYSE:SHW) by 42.9% in the third quarter, HoldingsChannel reports. The firm owned 7,000 shares of the specialty chemicals company’s stock after buying an additional 2,100 shares during the period. Cornerstone Advisors LLC’s holdings in Sherwin-Williams were worth $2,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHW. Citizens Financial Group Inc. RI increased its stake in Sherwin-Williams by 1.7% during the third quarter. Citizens Financial Group Inc. RI now owns 4,173 shares of the specialty chemicals company’s stock worth $1,593,000 after acquiring an additional 68 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Sherwin-Williams by 3.3% during the 3rd quarter. Moors & Cabot Inc. now owns 9,580 shares of the specialty chemicals company’s stock worth $3,656,000 after purchasing an additional 304 shares during the last quarter. Altman Advisors Inc. purchased a new stake in Sherwin-Williams in the 3rd quarter valued at about $1,914,000. Kirtland Hills Capital Management LLC raised its holdings in Sherwin-Williams by 11.6% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 4,875 shares of the specialty chemicals company’s stock valued at $1,861,000 after buying an additional 506 shares during the period. Finally, MWA Asset Management purchased a new position in Sherwin-Williams during the third quarter worth about $202,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sherwin-Williams

In related news, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,396,349.27. This represents a 28.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $383.32 on Friday. The firm has a market capitalization of $96.54 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The business’s fifty day moving average price is $376.87 and its 200 day moving average price is $343.67. The Sherwin-Williams Company has a 12 month low of $272.34 and a 12 month high of $392.57.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.20 EPS. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is 28.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHW. Morgan Stanley boosted their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Royal Bank of Canada decreased their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays lifted their price objective on Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams 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.