Johnson Investment Counsel Inc. Sells 851 Shares of The Sherwin-Williams Company (NYSE:SHW)

Johnson Investment Counsel Inc. cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,496 shares of the specialty chemicals company’s stock after selling 851 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Sherwin-Williams were worth $12,384,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Sherwin-Williams in the fourth quarter worth about $1,176,356,000. Capital World Investors increased its position in shares of Sherwin-Williams by 38.9% during the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after acquiring an additional 1,075,351 shares in the last quarter. PineStone Asset Management Inc. raised its holdings in Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after acquiring an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Sherwin-Williams by 610.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after acquiring an additional 898,143 shares in the last quarter. Finally, Jensen Investment Management Inc. purchased a new stake in Sherwin-Williams during the 2nd quarter valued at $169,770,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI upped their target price on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. KeyCorp lifted their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their target price on shares of Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $362.68.

Sherwin-Williams Trading Down 0.1 %

Shares of NYSE:SHW opened at $371.60 on Thursday. The stock has a 50 day moving average of $343.62 and a 200 day moving average of $326.02. The company has a market cap of $94.22 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $372.34. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The business had revenue of $6.27 billion during 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%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 earnings per share. As a group, equities research analysts expect that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.77%. Sherwin-Williams’s payout ratio is 30.49%.

Insider Activity

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

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.