Holderness Investments Co. Sells 3,686 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Holderness Investments Co. significantly reduced its stake in The Sherwin-Williams Company by 72.8%, selling 3,686 shares and now holding 1,380 shares valued at approximately $482,000.
• Insider transactions show that CAO James P. Lang sold 860 shares recently, reflecting a 69.52% decrease in his position in the company.
• Analysts have a mixed view on Sherwin-Williams, with a range of price target adjustments and an average rating of "Moderate Buy." The latest average price target is $383.33.

Holderness Investments Co. reduced its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 72.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,380 shares of the specialty chemicals company's stock after selling 3,686 shares during the quarter. Holderness Investments Co.'s holdings in Sherwin-Williams were worth $482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHW. Park Square Financial Group LLC purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at approximately $27,000. Perkins Coie Trust Co purchased a new position in shares of Sherwin-Williams in the 1st quarter valued at approximately $27,000. Synergy Investment Management LLC raised its position in shares of Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Sherwin-Williams in the 1st quarter valued at approximately $30,000. Finally, HWG Holdings LP purchased a new position in shares of Sherwin-Williams in the 1st quarter valued at approximately $46,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value of $301,301.00. Following the sale, the chief accounting officer owned 377 shares of the company's stock, valued at approximately $132,081.95. This trade represents a 69.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup decreased their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Morgan Stanley reduced their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $383.33.

Sherwin-Williams Price Performance

NYSE:SHW opened at $369.35 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16. The company has a 50 day moving average price of $345.71 and a 200-day moving average price of $347.99. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its 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). The firm had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. Sherwin-Williams's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $3.70 earnings per share. Equities research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is currently 31.35%.

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.

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