The Sherwin-Williams Company (NYSE:SHW) Holdings Cut by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its stake in The Sherwin-Williams Company (NYSE:SHW) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,049 shares of the specialty chemicals company’s stock after selling 13,097 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sherwin-Williams were worth $20,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Conning Inc. lifted its position in Sherwin-Williams by 1.9% in the 2nd quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock worth $479,000 after buying an additional 30 shares in the last quarter. Oxbow Advisors LLC lifted its position in Sherwin-Williams by 4.5% in the 2nd quarter. Oxbow Advisors LLC now owns 690 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 30 shares in the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of Sherwin-Williams by 2.2% during the 2nd quarter. Global X Japan Co. Ltd. now owns 1,403 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 30 shares in the last quarter. Optas LLC raised its holdings in shares of Sherwin-Williams by 1.3% during the 2nd quarter. Optas LLC now owns 2,424 shares of the specialty chemicals company’s stock valued at $723,000 after purchasing an additional 32 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Sherwin-Williams by 2.9% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,173 shares of the specialty chemicals company’s stock valued at $350,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $378.52 on Friday. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $382.83. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The business has a fifty day simple moving average of $353.82 and a 200 day simple moving average of $328.32. The firm has a market capitalization of $95.49 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 2.98 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $3.29 EPS. Sell-side analysts expect that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.76%. Sherwin-Williams’s payout ratio is presently 30.49%.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SHW shares. The Goldman Sachs Group raised their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. UBS Group raised their price target on shares of Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a report on Friday, August 30th. BMO Capital Markets restated an “outperform” rating and set a $400.00 price target (up previously from $386.00) on shares of Sherwin-Williams in a report on Wednesday, September 4th. Finally, Evercore ISI raised their target price on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.68.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.