The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,915 shares of the specialty chemicals company’s stock after selling 54 shares during the quarter. Financial Advocates Investment Management’s holdings in Sherwin-Williams were worth $731,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Hudson Valley Investment Advisors Inc. ADV grew its stake in Sherwin-Williams by 1.7% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,061 shares of the specialty chemicals company’s stock valued at $7,657,000 after purchasing an additional 333 shares during the last quarter. SteelPeak Wealth LLC boosted its position in Sherwin-Williams by 790.9% in the third quarter. SteelPeak Wealth LLC now owns 1,176 shares of the specialty chemicals company’s stock valued at $449,000 after buying an additional 1,044 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Sherwin-Williams by 2.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 3,044 shares of the specialty chemicals company’s stock worth $1,162,000 after buying an additional 71 shares during the period. First Trust Direct Indexing L.P. raised its position in Sherwin-Williams by 17.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,739 shares of the specialty chemicals company’s stock worth $3,335,000 after buying an additional 1,324 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Sherwin-Williams by 511.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,572 shares of the specialty chemicals company’s stock valued at $5,269,000 after acquiring an additional 12,189 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHW. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. BMO Capital Markets increased their price target on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. The Goldman Sachs Group boosted their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada dropped their target price on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average target price of $395.29.

Sherwin-Williams Stock Performance

SHW opened at $357.97 on Friday. The firm has a market capitalization of $90.16 billion, a PE ratio of 35.65, a PEG ratio of 2.92 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a twelve month low of $240.00 and a twelve month high of $392.57. The firm’s 50-day moving average price is $372.36 and its 200 day moving average price is $336.38.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 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 analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.20 EPS. As a group, sell-side analysts expect that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction that occurred 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

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.