The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in The Sherwin-Williams Company by 5.3%, selling 35,845 shares and owning 643,202 shares valued at approximately $224.6 million by the end of the quarter.
• Vanguard Group Inc. and Capital Research Global Investors both increased their stakes significantly in Sherwin-Williams, with Vanguard acquiring more than 245,896 shares and Capital Research raising its holdings by 47.1%.
• Sherwin-Williams reported quarterly earnings of $3.38 per share, missing estimates by $0.38, and also declared a quarterly dividend of $0.79 to be paid in September.

Raymond James Financial Inc. lessened its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 643,202 shares of the specialty chemicals company's stock after selling 35,845 shares during the quarter. Raymond James Financial Inc. owned about 0.26% of Sherwin-Williams worth $224,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Sherwin-Williams by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock worth $7,711,004,000 after buying an additional 245,896 shares during the period. Capital Research Global Investors increased its holdings in Sherwin-Williams by 47.1% in the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after buying an additional 960,724 shares during the period. Northern Trust Corp raised its position in Sherwin-Williams by 28.0% during the fourth quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock valued at $926,590,000 after acquiring an additional 595,586 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sherwin-Williams by 6.5% during 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 valued at $620,881,000 after acquiring an additional 111,128 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Sherwin-Williams by 41,717.1% during the first quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock valued at $571,381,000 after acquiring an additional 1,632,391 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SHW. BMO Capital Markets reduced their price target on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Bank of America upgraded Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $296.00 to $375.00 in a research report on Thursday. UBS Group reduced their price target on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Citigroup reduced their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sherwin-Williams has an average rating of "Moderate Buy" and a consensus price target of $388.60.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW opened at $364.18 on Friday. 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 business's 50 day moving average price is $346.00 and its 200-day moving average price is $347.91. The firm has a market capitalization of $90.80 billion, a PE ratio of 36.13, a P/E/G ratio of 3.44 and a beta of 1.16. 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 issued its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The business's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.70 earnings per share. As a group, equities research analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders 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 dividend yield of 0.9%. Sherwin-Williams's payout ratio is currently 31.35%.

Insider Activity

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 stock was 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 of the company's stock, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

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.

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