PNC Financial Services Group Inc. Grows Holdings in The Sherwin-Williams Company (NYSE:SHW)

PNC Financial Services Group Inc. grew its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 132,480 shares of the specialty chemicals company’s stock after acquiring an additional 1,632 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sherwin-Williams were worth $50,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Valued Wealth Advisors LLC boosted its stake in Sherwin-Williams by 88.9% in the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 32 shares in the last quarter. HHM Wealth Advisors LLC boosted its position in Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 45 shares during the period. First Personal Financial Services bought a new position in shares of Sherwin-Williams during the third quarter valued at about $29,000. Semmax Financial Advisors Inc. increased its holdings in shares of Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 60 shares during the period. Finally, VitalStone Financial LLC lifted its stake in shares of Sherwin-Williams by 233.3% in the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 77 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’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 owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SHW shares. Jefferies Financial Group lifted their price target on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets upped their price target on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $396.47.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $371.66 on Thursday. The firm has a market capitalization of $93.60 billion, a PE ratio of 37.02, a P/E/G ratio of 3.05 and a beta of 1.17. The company has a 50 day moving average price of $376.69 and a 200-day moving average price of $343.40. The Sherwin-Williams Company has a 52 week low of $270.95 and a 52 week high of $392.57. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 company posted $3.20 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.77%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Sherwin-Williams Company 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.