Welch Group LLC Buys 2,052 Shares of The Sherwin-Williams Company $SHW

Welch Group LLC increased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 6.6% during the third quarter, Holdings Channel reports. The firm owned 33,043 shares of the specialty chemicals company’s stock after acquiring an additional 2,052 shares during the quarter. Welch Group LLC’s holdings in Sherwin-Williams were worth $10,682,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Sherwin-Williams in the 2nd quarter valued at $6,100,083,000. Wellington Management Group LLP increased its holdings in shares of Sherwin-Williams by 133.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company’s stock valued at $958,821,000 after acquiring an additional 1,593,009 shares during the period. Amundi raised its position in shares of Sherwin-Williams by 20.6% in the 1st quarter. Amundi now owns 2,200,895 shares of the specialty chemicals company’s stock worth $705,497,000 after acquiring an additional 376,505 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Sherwin-Williams during the 2nd quarter worth $547,097,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Sherwin-Williams by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,417,166 shares of the specialty chemicals company’s stock worth $454,226,000 after purchasing an additional 39,853 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Stock Up 0.1%

Shares of NYSE:SHW opened at $332.95 on Monday. The Sherwin-Williams Company has a 52-week low of $289.86 and a 52-week high of $377.77. The stock has a market cap of $80.44 billion, a P/E ratio of 30.60, a PEG ratio of 2.77 and a beta of 1.08. The business has a fifty day moving average of $329.41 and a two-hundred day moving average of $333.14. 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 announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.69 by ($0.06). The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.78 billion. Sherwin-Williams had a net margin of 10.74% and a return on equity of 69.51%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.59 EPS. On average, research analysts expect that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, November 13th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.41%.

Wall Street Analysts Forecast Growth

SHW has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Sherwin-Williams from $369.00 to $383.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Rothschild & Co Redburn upped their price target on Sherwin-Williams from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Melius Research started coverage on Sherwin-Williams in a report on Tuesday, October 6th. They set a “hold” rating and a $367.00 price objective for the company. DA Davidson set a $390.00 price target on Sherwin-Williams and gave the company a “buy” rating in a research note on Wednesday. Finally, Stephens lowered their price target on Sherwin-Williams from $375.00 to $353.00 and set a “hold” rating for the company in a report on Tuesday, September 22nd. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $377.29.

Insider Buying and Selling

In other news, insider Karl Jorgenrud sold 7,886 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $368.30, for a total value of $2,904,413.80. Following the completion of the sale, the insider directly owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. This represents a 39.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 13,500 shares of Sherwin-Williams stock in a transaction on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the completion of the transaction, the insider owned 21,937 shares in the company, valued at approximately $7,737,179.90. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

About Sherwin-Williams

The Sherwin-Williams Company (NYSE: SHW) develops, manufactures, distributes and sells paints, coatings and related products. Its offerings include architectural paints, industrial coatings, wood finishes, protective coatings, automotive refinishing products, floor coatings and related supplies marketed under brands such as Sherwin-Williams, Valspar, Minwax, Krylon and Dutch Boy.

Founded in 1866 and headquartered in Cleveland, Ohio, Sherwin-Williams serves professional contractors, do-it-yourself consumers, industrial manufacturers, commercial businesses and other customers.