Atlantic Edge Private Wealth Management LLC Sells 881 Shares of The Sherwin-Williams Company $SHW

Key Points

• Atlantic Edge Private Wealth Management LLC reduced its stake in The Sherwin-Williams Company by 24.1%, selling 881 shares to hold a total of 2,776 shares valued at approximately $953,000.
• Several institutional investors increased their holdings in Sherwin-Williams during the second quarter, with DekaBank Deutsche Girozentrale boosting its position by 99.1%, now owning 267,825 shares valued at $92.5 million.
• Following recent transactions, insider Justin T. Binns sold 609 shares for about $224,611, while CAO James P. Lang sold 860 shares worth $301,301, decreasing their holdings significantly.

Atlantic Edge Private Wealth Management LLC cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 24.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,776 shares of the specialty chemicals company's stock after selling 881 shares during the quarter. Atlantic Edge Private Wealth Management LLC's holdings in Sherwin-Williams were worth $953,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Phoenix Financial Ltd. boosted its position in shares of Sherwin-Williams by 57.4% during the second quarter. Phoenix Financial Ltd. now owns 3,509 shares of the specialty chemicals company's stock valued at $1,204,000 after buying an additional 1,279 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Sherwin-Williams by 14.0% during the second quarter. Avidian Wealth Enterprises LLC now owns 959 shares of the specialty chemicals company's stock valued at $329,000 after buying an additional 118 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Sherwin-Williams by 99.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 267,825 shares of the specialty chemicals company's stock valued at $92,513,000 after buying an additional 133,326 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Sherwin-Williams by 2.4% during the second quarter. Stephens Inc. AR now owns 23,496 shares of the specialty chemicals company's stock valued at $8,068,000 after buying an additional 540 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its position in shares of Sherwin-Williams by 0.3% during the second quarter. Calamos Wealth Management LLC now owns 47,255 shares of the specialty chemicals company's stock valued at $16,226,000 after buying an additional 158 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $368.82, for a total transaction of $224,611.38. Following the transaction, the insider directly owned 17,922 shares of the company's stock, valued at $6,609,992.04. The trade was a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value of $301,301.00. Following the transaction, the chief accounting officer directly owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Sherwin-Williams Trading Down 0.0%

Shares of NYSE:SHW opened at $330.72 on Tuesday. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market capitalization of $82.46 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 3.10 and a beta of 1.20. The stock's 50-day simple moving average is $352.74 and its two-hundred day simple moving average is $347.94.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. During the same period in the previous year, the firm earned $3.70 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. Analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SHW. Evercore ISI increased their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Wells Fargo & Company set a $395.00 price objective on Sherwin-Williams and gave the company an "overweight" rating in a research report on Friday, October 10th. BMO Capital Markets dropped their target price on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Citigroup reissued a "neutral" rating and issued a $380.00 target price (up from $375.00) on shares of Sherwin-Williams in a research report on Monday, October 6th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Sherwin-Williams in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $387.13.

Sherwin-Williams Company 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.

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