Sequoia Financial Advisors LLC Sells 29 Shares of Sherwin-Williams Co. (SHW)
Sequoia Financial Advisors LLC reduced its stake in shares of Sherwin-Williams Co. (NYSE:SHW) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 3,001 shares of the company’s stock after selling 29 shares during the period. Sequoia Financial Advisors LLC’s holdings in Sherwin-Williams were worth $881,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Sherwin-Williams during the second quarter valued at about $52,516,000. Loomis Sayles & Co. L P raised its stake in Sherwin-Williams by 171.6% in the first quarter. Loomis Sayles & Co. L P now owns 204,031 shares of the company’s stock valued at $58,082,000 after buying an additional 128,904 shares during the period. Boston Advisors LLC acquired a new stake in Sherwin-Williams during the second quarter valued at about $20,017,000. SevenBridge Financial Group LLC acquired a new stake in Sherwin-Williams during the first quarter valued at about $163,000. Finally, HBK Investments L P raised its stake in Sherwin-Williams by 869.8% in the first quarter. HBK Investments L P now owns 44,300 shares of the company’s stock valued at $12,611,000 after buying an additional 39,732 shares during the period. 74.62% of the stock is currently owned by institutional investors.
Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 0.44% during midday trading on Monday, hitting $269.59. 507,967 shares of the stock were exchanged. The company has a market capitalization of $24.75 billion, a P/E ratio of 22.73 and a beta of 0.92. The firm has a 50-day moving average of $277.67 and a 200-day moving average of $289.95. Sherwin-Williams Co. has a 1-year low of $234.96 and a 1-year high of $312.48.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by $0.10. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.70 EPS. On average, equities analysts expect that Sherwin-Williams Co. will post $12.64 EPS for the current year.
A number of research firms recently weighed in on SHW. Seaport Global Securities lowered shares of Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 target price on the stock. in a report on Monday, July 11th. Zacks Investment Research lowered shares of Sherwin-Williams from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Argus raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, October 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 target price on shares of Sherwin-Williams in a report on Wednesday, July 20th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $330.00 target price on shares of Sherwin-Williams in a report on Monday, July 25th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $324.85.
In other news, insider Joel D. Baxter sold 3,853 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the sale, the insider now owns 8,347 shares in the company, valued at $2,505,435.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John G. Morikis sold 30,353 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares in the company, valued at approximately $35,791,445. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.
Sherwin-Williams Company Profile
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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