The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 84.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,265 shares of the specialty chemicals company’s stock after selling 59,706 shares during the period. Westpac Banking Corp’s holdings in Sherwin-Williams were worth $2,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Arbor Capital Management Inc. ADV boosted its holdings in shares of Sherwin-Williams by 1.0% in the second quarter. Arbor Capital Management Inc. ADV now owns 3,884 shares of the specialty chemicals company’s stock valued at $1,024,000 after acquiring an additional 38 shares during the period. TrinityPoint Wealth LLC grew its position in Sherwin-Williams by 1.8% during the 2nd quarter. TrinityPoint Wealth LLC now owns 2,255 shares of the specialty chemicals company’s stock worth $599,000 after purchasing an additional 39 shares during the last quarter. Archer Investment Corp grew its position in Sherwin-Williams by 19.5% during the 2nd quarter. Archer Investment Corp now owns 239 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 39 shares during the last quarter. Financial Gravity Asset Management Inc. increased its stake in Sherwin-Williams by 0.3% in the second quarter. Financial Gravity Asset Management Inc. now owns 13,028 shares of the specialty chemicals company’s stock valued at $5,631,000 after purchasing an additional 41 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Sherwin-Williams by 0.4% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 10,777 shares of the specialty chemicals company’s stock worth $2,862,000 after buying an additional 43 shares during the period. 75.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sherwin-Williams

In related news, CEO John G. Morikis acquired 2,125 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average price of $237.60 per share, for a total transaction of $504,900.00. Following the transaction, the chief executive officer now owns 317,270 shares in the company, valued at approximately $75,383,352. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SHW has been the subject of several analyst reports. Barclays upped their price objective on Sherwin-Williams from $240.00 to $285.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 25th. Royal Bank of Canada lifted their price objective on shares of Sherwin-Williams from $315.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Berenberg Bank upped their price objective on shares of Sherwin-Williams from $224.00 to $249.00 and gave the stock a “hold” rating in a research report on Friday, September 29th. Mizuho lifted their target price on shares of Sherwin-Williams from $290.00 to $305.00 in a report on Wednesday, July 26th. Finally, Citigroup reduced their price objective on shares of Sherwin-Williams from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.44.

Sherwin-Williams Price Performance

Shares of SHW stock traded up $3.65 during mid-day trading on Thursday, reaching $268.44. The stock had a trading volume of 253,815 shares, compared to its average volume of 1,460,996. The company has a market cap of $68.71 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a current ratio of 0.94, a quick ratio of 0.60 and a debt-to-equity ratio of 2.25. The Sherwin-Williams Company has a 12-month low of $205.43 and a 12-month high of $283.80. The business has a 50-day simple moving average of $252.77 and a 200 day simple moving average of $253.93.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 24th. The specialty chemicals company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.43. Sherwin-Williams had a net margin of 10.50% and a return on equity of 78.92%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6 billion. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 10.3 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 16th. Sherwin-Williams’s payout ratio is currently 25.91%.

About Sherwin-Williams

The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.