Park Place Capital Corp Decreases Holdings in The Sherwin-Williams Company (NYSE:SHW)

Park Place Capital Corp decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,215 shares of the specialty chemicals company’s stock after selling 139 shares during the period. Park Place Capital Corp’s holdings in Sherwin-Williams were worth $845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHW. Waterloo Capital L.P. purchased a new position in shares of Sherwin-Williams in the 4th quarter worth approximately $360,000. Ossiam lifted its position in Sherwin-Williams by 2.8% in the fourth quarter. Ossiam now owns 6,025 shares of the specialty chemicals company’s stock worth $1,879,000 after buying an additional 164 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in Sherwin-Williams by 4.0% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 21,328 shares of the specialty chemicals company’s stock valued at $6,652,000 after acquiring an additional 826 shares during the last quarter. State of Tennessee Treasury Department raised its stake in shares of Sherwin-Williams by 20.0% in the fourth quarter. State of Tennessee Treasury Department now owns 101,245 shares of the specialty chemicals company’s stock valued at $31,578,000 after acquiring an additional 16,855 shares during the period. Finally, Regal Investment Advisors LLC lifted its holdings in shares of Sherwin-Williams by 4.4% in the 4th quarter. Regal Investment Advisors LLC now owns 2,560 shares of the specialty chemicals company’s stock worth $799,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Up 1.2 %

Sherwin-Williams stock traded up $4.52 during mid-day trading on Tuesday, reaching $372.30. 224,885 shares of the company were exchanged, compared to its average volume of 1,548,375. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The firm has a market cap of $93.92 billion, a P/E ratio of 39.69, a PEG ratio of 2.97 and a beta of 1.17. The business has a fifty day moving average of $363.87 and a 200 day moving average of $331.25. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $385.25.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 EPS. Research analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.77%. Sherwin-Williams’s payout ratio is 30.49%.

Analyst Ratings Changes

A number of analysts recently weighed in on SHW shares. BMO Capital Markets increased their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price target on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada restated an “outperform” rating and set a $418.00 price objective on shares of Sherwin-Williams in a report on Friday, August 30th. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.39.

Sherwin-Williams Profile

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.