Beck Mack & Oliver LLC Reduces Position in The Sherwin-Williams Company $SHW

Beck Mack & Oliver LLC trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW) by 12.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 31,256 shares of the specialty chemicals company’s stock after selling 4,507 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Sherwin-Williams were worth $10,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Sherwin-Williams during the second quarter worth about $1,296,565,000. Viking Global Investors LP raised its holdings in Sherwin-Williams by 101.4% in the 2nd quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company’s stock valued at $672,213,000 after acquiring an additional 985,520 shares during the last quarter. Amundi lifted its stake in Sherwin-Williams by 55.8% in the 2nd quarter. Amundi now owns 1,665,333 shares of the specialty chemicals company’s stock worth $587,047,000 after purchasing an additional 596,657 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sherwin-Williams by 22.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,039,306 shares of the specialty chemicals company’s stock worth $1,043,595,000 after purchasing an additional 553,275 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Sherwin-Williams by 9.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,887,808 shares of the specialty chemicals company’s stock worth $1,334,918,000 after purchasing an additional 351,453 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of analyst reports. Royal Bank Of Canada set a $390.00 price target on Sherwin-Williams and gave the company an “outperform” rating in a research report on Friday, January 30th. UBS Group set a $420.00 price objective on Sherwin-Williams in a research report on Friday, January 30th. Zacks Research cut Sherwin-Williams from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price for the company in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $388.21.

Sherwin-Williams Trading Up 0.6%

NYSE SHW opened at $319.62 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The stock has a market capitalization of $79.06 billion, a P/E ratio of 31.12, a PEG ratio of 2.77 and a beta of 1.25. The firm’s 50-day moving average is $352.08 and its two-hundred day moving average is $344.38. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $379.65.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.07. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business earned $2.09 earnings per share. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were issued a $0.80 dividend. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date was Monday, March 2nd. This represents a $3.20 annualized dividend and a yield of 1.0%. Sherwin-Williams’s payout ratio is 31.16%.

Insider Buying and Selling

In other news, SVP Bryan J. Young sold 2,513 shares of Sherwin-Williams stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. The trade was a 20.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the sale, the insider owned 5,365 shares in the company, valued at $1,928,717.50. This represents a 35.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by insiders.

Sherwin-Williams Company Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.