The Sherwin-Williams Company $SHW Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Sherwin-Williams stake by 33.6% in the third quarter, selling 5,873 shares and retaining 11,590 shares valued at about $3.75 million.
• Sherwin-Williams reported quarterly revenue of $6.86 billion, up 7.9% year over year and above estimates, but EPS of $3.63 fell short of the $3.69 consensus.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $377.29; the company also declared a quarterly dividend of $0.80 per share.

AIA Group Ltd lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 33.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,590 shares of the specialty chemicals company's stock after selling 5,873 shares during the quarter. AIA Group Ltd's holdings in Sherwin-Williams were worth $3,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Provenance Wealth Advisors LLC raised its holdings in Sherwin-Williams by 348.1% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 3,737 shares of the specialty chemicals company's stock valued at $1,208,000 after acquiring an additional 2,903 shares during the last quarter. Integrity Alliance LLC. grew its position in shares of Sherwin-Williams by 16.1% in the third quarter. Integrity Alliance LLC. now owns 2,516 shares of the specialty chemicals company's stock valued at $813,000 after purchasing an additional 348 shares in the last quarter. Stiles Financial Services Inc increased its holdings in shares of Sherwin-Williams by 0.6% in the third quarter. Stiles Financial Services Inc now owns 6,385 shares of the specialty chemicals company's stock valued at $2,064,000 after purchasing an additional 41 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super increased its holdings in shares of Sherwin-Williams by 22.3% in the third quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 76,666 shares of the specialty chemicals company's stock valued at $24,784,000 after purchasing an additional 14,003 shares during the last quarter. Finally, Summit Wealth Group LLC Co. lifted its position in Sherwin-Williams by 148.9% during the third quarter. Summit Wealth Group LLC Co. now owns 2,347 shares of the specialty chemicals company's stock worth $759,000 after buying an additional 1,404 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams stock opened at $363.70 on Thursday. The Sherwin-Williams Company has a 52 week low of $289.86 and a 52 week high of $377.77. The business's fifty day simple moving average is $329.67 and its 200-day simple moving average is $333.09. The firm has a market cap of $87.87 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.84 and a beta of 1.05. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 2.00.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.69 by ($0.06). The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.78 billion. Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.59 earnings per share. Equities analysts forecast that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Sherwin-Williams's dividend payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of recent research reports. Berenberg Bank boosted their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Melius Research began coverage on Sherwin-Williams in a research note on Tuesday, October 6th. They issued a "hold" rating and a $367.00 target price for the company. BMO Capital Markets reissued an "outperform" rating on shares of Sherwin-Williams in a research report on Monday, September 28th. Argus upped their price objective on shares of Sherwin-Williams from $355.00 to $380.00 in a report on Thursday, August 27th. Finally, DA Davidson set a $390.00 price objective on shares of Sherwin-Williams and gave the company a "buy" rating in a report on Wednesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Sherwin-Williams presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.29.

Insiders Place Their Bets

In related news, SVP Mary L. Garceau sold 3,891 shares of the business's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $350.42, for a total value of $1,363,484.22. Following the sale, the senior vice president owned 31,466 shares in the company, valued at approximately $11,026,315.72. The trade was a 11.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl J. Jorgenrud sold 7,886 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $368.30, for a total value of $2,904,413.80. Following the transaction, the insider directly owned 11,944 shares in the company, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,277 shares of company stock worth $9,029,348 over the last ninety days. Corporate insiders own 0.23% of the company's stock.

Sherwin-Williams Company Profile

The Sherwin-Williams Company NYSE: SHW develops, manufactures, distributes and sells paints, coatings and related products. Its offerings include architectural paints, industrial coatings, wood finishes, protective coatings, automotive refinishing products, floor coatings and related supplies marketed under brands such as Sherwin-Williams, Valspar, Minwax, Krylon and Dutch Boy.

Founded in 1866 and headquartered in Cleveland, Ohio, Sherwin-Williams serves professional contractors, do-it-yourself consumers, industrial manufacturers, commercial businesses and other customers.

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