1,179 Shares in The Sherwin-Williams Company (NYSE:SHW) Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 1,179 shares of the specialty chemicals company’s stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Griffin Asset Management Inc. raised its stake in Sherwin-Williams by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after acquiring an additional 26 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Sherwin-Williams by 2.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after acquiring an additional 28 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 28 shares in the last quarter. Allworth Financial LP raised its stake in Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after acquiring an additional 28 shares in the last quarter. Finally, First Interstate Bank raised its stake in Sherwin-Williams by 1.9% during the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock worth $560,000 after acquiring an additional 28 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHW. Citigroup cut their price target on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, September 30th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group upped their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $396.47.

Insider Transactions at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This represents a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction 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. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $388.30 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company has a market cap of $97.79 billion, a P/E ratio of 38.68, a P/E/G ratio of 3.13 and a beta of 1.17. The Sherwin-Williams Company has a fifty-two week low of $272.34 and a fifty-two week high of $392.57. The firm’s 50 day moving average is $377.13 and its two-hundred day moving average is $344.54.

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

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

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.