The Sherwin-Williams Company $SHW Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its stake in Sherwin‑Williams by 7.5% in Q3, selling 20,774 shares and now holds 255,191 shares worth about $88.36 million (0.10% of the company).
• Insiders Colin M. Davie and SVP Bryan J. Young sold 2,976 and 2,513 shares respectively (at roughly $359.50 and $364.47), representing notable ownership reductions; company insiders now own about 0.60% of SHW.
• Sherwin‑Williams beat quarterly estimates with EPS of $2.23 (vs. $2.16) on $5.60B revenue and raised its quarterly dividend to $0.80 ($3.20 annual, 1.0% yield) with an ex‑dividend date of March 2.

Korea Investment CORP cut its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 255,191 shares of the specialty chemicals company's stock after selling 20,774 shares during the quarter. Korea Investment CORP owned 0.10% of Sherwin-Williams worth $88,362,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Sherwin-Williams by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 22,637,705 shares of the specialty chemicals company's stock worth $7,838,532,000 after buying an additional 309,153 shares during the last quarter. Geode Capital Management LLC grew its stake in Sherwin-Williams by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,111,157 shares of the specialty chemicals company's stock valued at $1,746,222,000 after acquiring an additional 90,482 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Sherwin-Williams by 9.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,887,808 shares of the specialty chemicals company's stock valued at $1,334,918,000 after acquiring an additional 351,453 shares during the last quarter. Norges Bank purchased a new position in Sherwin-Williams during the 2nd quarter valued at about $1,296,565,000. Finally, JPMorgan Chase & Co. raised its position in Sherwin-Williams by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 3,052,021 shares of the specialty chemicals company's stock worth $1,056,811,000 after acquiring an additional 12,715 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,976 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the transaction, the insider directly owned 5,365 shares in the company, valued at approximately $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bryan J. Young sold 2,513 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the transaction, the senior vice president owned 10,045 shares in the company, valued at $3,661,101.15. This trade represents a 20.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $329.77 on Friday. The company has a market cap of $81.57 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.86 and a beta of 1.25. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $379.65. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The company has a 50-day simple moving average of $352.17 and a 200-day simple moving average of $345.87.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.07. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. The company's revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Sherwin-Williams's previous quarterly dividend of $0.79. Sherwin-Williams's dividend payout ratio is currently 31.16%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SHW shares. Deutsche Bank Aktiengesellschaft downgraded shares of Sherwin-Williams from a "buy" rating to a "hold" rating and set a $380.00 price target on the stock. in a report on Thursday, January 22nd. Zacks Research downgraded Sherwin-Williams from a "hold" rating to a "strong sell" rating in a research report on Friday, January 30th. Royal Bank Of Canada set a $390.00 target price on Sherwin-Williams and gave the company an "outperform" rating in a research note on Friday, January 30th. Mizuho increased their target price on Sherwin-Williams from $400.00 to $410.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Finally, UBS Group set a $420.00 price target on Sherwin-Williams in a research report on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.67.

Sherwin-Williams Company Profile

Sherwin-Williams NYSE: SHW is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

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