The Sherwin-Williams Company (NYSE:SHW) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in The Sherwin-Williams Company (NYSE:SHW) by 18.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,653 shares of the specialty chemicals company’s stock after buying an additional 409 shares during the quarter. Independence Bank of Kentucky’s holdings in Sherwin-Williams were worth $1,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SHW. CCM Investment Advisers LLC increased its position in Sherwin-Williams by 0.7% in the 3rd quarter. CCM Investment Advisers LLC now owns 39,122 shares of the specialty chemicals company’s stock valued at $14,932,000 after acquiring an additional 254 shares during the period. Quotient Wealth Partners LLC increased its position in Sherwin-Williams by 11.8% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,082 shares of the specialty chemicals company’s stock valued at $413,000 after acquiring an additional 114 shares during the period. UMB Bank n.a. increased its position in Sherwin-Williams by 102.7% in the 3rd quarter. UMB Bank n.a. now owns 22,954 shares of the specialty chemicals company’s stock valued at $8,761,000 after acquiring an additional 11,632 shares during the period. Pensionfund Sabic acquired a new stake in Sherwin-Williams in the 3rd quarter valued at approximately $1,527,000. Finally, BSN CAPITAL PARTNERS Ltd acquired a new stake in Sherwin-Williams in the 3rd quarter valued at approximately $23,282,000. Institutional investors own 77.67% of the company’s stock.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE SHW traded up $0.86 during midday trading on Friday, reaching $377.31. 55,709 shares of the company were exchanged, compared to its average volume of 1,538,266. The stock’s 50-day moving average price is $365.39 and its 200-day moving average price is $332.11. The stock has a market cap of $95.18 billion, a P/E ratio of 38.37, a PEG ratio of 2.97 and a beta of 1.17. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $385.25. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm 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%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.29 earnings per share. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 29.15%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SHW shares. BMO Capital Markets increased their price target on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Robert W. Baird increased their price target on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company increased their price target on Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.39.

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.