Gulf International Bank UK Ltd Sells 4,795 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Gulf International Bank UK Ltd has reduced its stake in The Sherwin-Williams Company by 26.0%, holding 13,678 shares worth approximately $4.78 million after selling 4,795 shares in the first quarter.
• Despite a quarterly earnings miss of $3.38 per share, the company's revenue of $6.31 billion met analysts' expectations, showing a slight 0.6% year-over-year revenue increase.
• Sherwin-Williams announced a quarterly dividend of $0.79 per share, with a yield of 0.9%, set to be paid on September 5th.

Gulf International Bank UK Ltd reduced its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,678 shares of the specialty chemicals company's stock after selling 4,795 shares during the period. Gulf International Bank UK Ltd's holdings in Sherwin-Williams were worth $4,776,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Sherwin-Williams by 1.1% in the first quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock worth $7,711,004,000 after acquiring an additional 245,896 shares during the period. Capital Research Global Investors grew its stake in shares of Sherwin-Williams by 47.1% in the fourth quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after acquiring an additional 960,724 shares during the period. Northern Trust Corp grew its stake in shares of Sherwin-Williams by 28.0% in the fourth quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after acquiring an additional 595,586 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sherwin-Williams by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,826,498 shares of the specialty chemicals company's stock worth $620,881,000 after acquiring an additional 111,128 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Sherwin-Williams by 41,717.1% in the first quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after acquiring an additional 1,632,391 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Price Performance

SHW traded down $1.39 during trading hours on Friday, hitting $364.18. The company's stock had a trading volume of 1,785,134 shares, compared to its average volume of 2,253,146. The business's 50-day moving average price is $346.00 and its 200-day moving average price is $347.91. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42. The stock has a market cap of $90.80 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 3.44 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78.

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

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams's payout ratio is 31.35%.

Insiders Place Their Bets

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the transaction, the chief accounting officer owned 377 shares in the company, valued at $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SHW has been the topic of a number of research reports. Citigroup dropped their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. UBS Group dropped their price objective on shares of Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets dropped their price objective on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Loop Capital dropped their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Bank of America raised shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $296.00 to $375.00 in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $388.60.

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.