Confluence Investment Management LLC Has $31.48 Million Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Confluence Investment Management LLC cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,478 shares of the specialty chemicals company’s stock after selling 1,497 shares during the quarter. Confluence Investment Management LLC’s holdings in Sherwin-Williams were worth $31,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SHW. Vanguard Group Inc. grew its stake 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 lifted its stake in 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 acquiring an additional 219,149 shares during the last quarter. Legal & General Group Plc grew its position in shares of Sherwin-Williams by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after acquiring an additional 53,487 shares during the period. PineStone Asset Management Inc. increased its stake in shares of Sherwin-Williams by 132.8% during 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 purchasing an additional 917,979 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Sherwin-Williams by 18.5% in the 2nd 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 purchasing an additional 238,031 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $384.00 on Friday. 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 Sherwin-Williams Company has a fifty-two week low of $251.69 and a fifty-two week high of $392.57. The company has a market cap of $96.71 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 3.02 and a beta of 1.17. The stock has a fifty day moving average price of $373.38 and a 200-day moving average price of $338.03.

Sherwin-Williams (NYSE:SHW) last released its 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). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the prior year, the business earned $3.20 earnings per share. Sherwin-Williams’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is presently 28.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SHW. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Robert W. Baird lifted their target price on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup reduced their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average price target of $396.47.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on 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 directly owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.60% of the company’s stock.

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.