Procyon Advisors LLC Has $1.21 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Procyon Advisors LLC trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,171 shares of the specialty chemicals company’s stock after selling 54 shares during the period. Procyon Advisors LLC’s holdings in Sherwin-Williams were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Sherwin-Williams by 0.9% in the first quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after buying an additional 184,979 shares in the last quarter. Capital International Investors raised its position in shares of Sherwin-Williams by 10.5% in the first quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock valued at $799,595,000 after buying an additional 219,149 shares in the last quarter. Legal & General Group Plc raised its position in shares of Sherwin-Williams by 2.9% in the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after buying an additional 53,487 shares in the last quarter. PineStone Asset Management Inc. raised its position in shares of Sherwin-Williams by 132.8% in the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after buying an additional 917,979 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Sherwin-Williams by 18.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after acquiring an additional 238,031 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Price Performance

SHW stock opened at $384.16 on Tuesday. The firm has a market cap of $96.91 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 2.95 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $385.25. The company’s fifty day simple moving average is $366.92 and its 200 day simple moving average is $332.45.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.19. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. Sherwin-Williams’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.29 earnings per share. On average, analysts expect that The Sherwin-Williams Company will post 11.5 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio is currently 29.15%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SHW shares. Wells Fargo & Company lifted their price objective on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.39.

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.