Atreides Management LP Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Atreides Management LP lowered its position in The Sherwin-Williams Company (NYSE:SHW) by 57.6% during the third quarter, HoldingsChannel reports. The firm owned 94,634 shares of the specialty chemicals company’s stock after selling 128,317 shares during the period. Sherwin-Williams comprises 0.9% of Atreides Management LP’s holdings, making the stock its 28th biggest position. Atreides Management LP’s holdings in Sherwin-Williams were worth $36,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its stake in shares of Sherwin-Williams by 13.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock worth $694,000 after acquiring an additional 209 shares during the last quarter. Tamar Securities LLC increased its stake in shares of Sherwin-Williams by 3.4% in the 3rd quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after acquiring an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Sherwin-Williams by 7.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after acquiring an additional 193 shares during the last quarter. Swedbank AB increased its stake in shares of Sherwin-Williams by 4.2% in the 3rd quarter. Swedbank AB now owns 117,055 shares of the specialty chemicals company’s stock worth $44,676,000 after acquiring an additional 4,681 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Sherwin-Williams by 4.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock worth $37,449,000 after acquiring an additional 4,074 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets raised their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $396.47.

Insider Activity

In related news, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction that occurred 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 owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total value of $6,275,198.40. Following the sale, the senior vice president now owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. The trade was a 35.06 % 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

Shares of SHW opened at $397.40 on Monday. The stock has a 50-day simple moving average of $378.94 and a 200-day simple moving average of $347.31. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The stock has a market capitalization of $100.09 billion, a PE ratio of 39.58, a PEG ratio of 3.20 and a beta of 1.17. The Sherwin-Williams Company has a 1 year low of $272.34 and a 1 year high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company 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 business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.20 EPS. On average, analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s payout ratio is presently 28.49%.

About Sherwin-Williams

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.