The Sherwin-Williams Company $SHW Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in The Sherwin-Williams Company (NYSE:SHW) by 14.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,044 shares of the specialty chemicals company’s stock after selling 16,547 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Sherwin-Williams were worth $31,695,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SHW. Milestone Asset Management LLC acquired a new position in Sherwin-Williams during the third quarter worth $3,153,000. Caisse de depot et placement du Quebec purchased a new position in shares of Sherwin-Williams during the second quarter worth $5,473,000. William John Sempolinski acquired a new stake in shares of Sherwin-Williams in the second quarter valued at $2,456,000. BlackRock Inc. acquired a new stake in shares of Sherwin-Williams in the second quarter valued at $6,100,083,000. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Sherwin-Williams by 421.7% in the third quarter. First Citizens Bank & Trust Co. now owns 4,309 shares of the specialty chemicals company’s stock valued at $1,393,000 after buying an additional 3,483 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Melius Research started coverage on Sherwin-Williams in a research report on Tuesday, October 6th. They issued a “hold” rating and a $367.00 target price for the company. Berenberg Bank increased their price target on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Argus raised their price objective on shares of Sherwin-Williams from $355.00 to $380.00 in a research note on Thursday, August 27th. UBS Group restated a “neutral” rating and issued a $370.00 price objective (up from $363.00) on shares of Sherwin-Williams in a report on Wednesday, October 28th. Finally, Citigroup cut their target price on shares of Sherwin-Williams from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.29.

Insider Buying and Selling

In related news, insider Justin Binns sold 13,500 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $352.70, for a total value of $4,761,450.00. Following the transaction, the insider directly owned 21,937 shares of the company’s stock, valued at $7,737,179.90. This trade represents a 38.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bryan J. Young sold 1,314 shares of Sherwin-Williams stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $345.71, for a total transaction of $454,262.94. Following the sale, the senior vice president owned 10,045 shares in the company, valued at $3,472,656.95. This represents a 11.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,315 shares of company stock valued at $7,848,071 over the last three months. 0.23% of the stock is currently owned by insiders.

Sherwin-Williams Trading Down 0.7%

NYSE SHW opened at $355.59 on Wednesday. The Sherwin-Williams Company has a 52 week low of $289.86 and a 52 week high of $377.77. The firm has a 50 day moving average of $330.26 and a two-hundred day moving average of $333.06. The stock has a market capitalization of $85.91 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 2.00.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.69 by ($0.06). The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.78 billion. Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. Sherwin-Williams’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $3.59 earnings per share. As a group, research analysts expect that The Sherwin-Williams Company will post 12.02 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Sherwin-Williams’s dividend payout ratio is currently 29.41%.

Sherwin-Williams Company Profile

The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.