Sherwin-Williams Co. (SHW) Position Reduced by Concert Wealth Management Inc.
Concert Wealth Management Inc. decreased its stake in shares of Sherwin-Williams Co. (NYSE:SHW) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,094 shares of the company’s stock after selling 195 shares during the period. Concert Wealth Management Inc.’s holdings in Sherwin-Williams were worth $911,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SHW. First Citizens Bank & Trust Co. acquired a new position in Sherwin-Williams during the second quarter valued at about $253,000. Quantitative Systematic Strategies LLC boosted its position in Sherwin-Williams by 7.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 5,407 shares of the company’s stock valued at $1,570,000 after buying an additional 389 shares during the period. First Business Financial Services Inc. acquired a new position in Sherwin-Williams during the second quarter valued at about $372,000. Whittier Trust Co. of Nevada Inc. boosted its position in Sherwin-Williams by 37.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,074 shares of the company’s stock valued at $1,783,000 after buying an additional 1,640 shares during the period. Finally, Whittier Trust Co. boosted its position in Sherwin-Williams by 5.0% in the second quarter. Whittier Trust Co. now owns 27,180 shares of the company’s stock valued at $7,981,000 after buying an additional 1,305 shares during the period. 74.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 0.60% on Monday, hitting $270.34. The stock had a trading volume of 463,105 shares. The company’s 50 day moving average price is $280.39 and its 200-day moving average price is $290.49. Sherwin-Williams Co. has a 12 month low of $234.96 and a 12 month high of $312.48. The company has a market cap of $24.81 billion, a P/E ratio of 22.80 and a beta of 0.92.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Thursday, July 21st. The company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.16 by $0.10. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Sherwin-Williams had a return on equity of 110.16% and a net margin of 9.50%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 earnings per share. On average, analysts expect that Sherwin-Williams Co. will post $12.64 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. Argus raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday. Wells Fargo & Co. initiated coverage on Sherwin-Williams in a research report on Wednesday, September 28th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target on the stock in a research report on Monday, September 26th. Credit Agricole SA restated a “buy” rating and set a $350.00 price target on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Finally, Sterne Agee CRT upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $324.85.
In other Sherwin-Williams news, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the transaction, the insider now directly owns 8,347 shares in the company, valued at approximately $2,505,435.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $298.75, for a total value of $9,067,958.75. Following the transaction, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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