The Sherwin-Williams Company $SHW Stake Increased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Sherwin-Williams stake by 498.4% in the third quarter, bringing its holdings to 10,574 shares valued at approximately $3.4 million. Institutional investors collectively own 77.67% of SHW.
• Sherwin-Williams reported quarterly revenue of $6.86 billion, up 7.9% year over year and above estimates, although EPS of $3.63 narrowly missed the $3.69 consensus forecast.
• The company declared a quarterly dividend of $0.80 per share, or $3.20 annually, representing a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $377.29.

International Assets Investment Management LLC lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 498.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,574 shares of the specialty chemicals company's stock after acquiring an additional 8,807 shares during the period. International Assets Investment Management LLC's holdings in Sherwin-Williams were worth $3,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHW. BlackRock Inc. purchased a new position in shares of Sherwin-Williams during the 2nd quarter valued at about $6,100,083,000. Wellington Management Group LLP raised its stake in shares of Sherwin-Williams by 133.7% during the second quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company's stock worth $958,821,000 after acquiring an additional 1,593,009 shares in the last quarter. Amundi raised its stake in shares of Sherwin-Williams by 20.6% during the first quarter. Amundi now owns 2,200,895 shares of the specialty chemicals company's stock worth $705,497,000 after acquiring an additional 376,505 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Sherwin-Williams in the 2nd quarter worth approximately $547,097,000. Finally, Legal & General Group Plc bought a new stake in shares of Sherwin-Williams in the 2nd quarter worth approximately $459,652,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Up 6.0%

NYSE:SHW opened at $352.51 on Tuesday. The firm has a market capitalization of $85.16 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.51 and a beta of 1.08. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 2.00. The company has a fifty day moving average of $329.52 and a 200 day moving average of $333.12. The Sherwin-Williams Company has a 52 week low of $289.86 and a 52 week high of $377.77.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings results 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). Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.78 billion. During the same period last year, the business earned $3.59 EPS. Sherwin-Williams's revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Insider Transactions at Sherwin-Williams

In related news, insider Karl Jorgenrud sold 7,886 shares of the firm's 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 sale, the insider directly owned 11,944 shares of the company's stock, valued at $4,398,975.20. This trade represents a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Justin T. Binns sold 13,500 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $352.70, for a total value of $4,761,450.00. Following the transaction, the insider owned 21,937 shares in the company, valued at approximately $7,737,179.90. This represents a 38.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SHW. Citigroup cut their price objective on shares of Sherwin-Williams from $400.00 to $370.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Sherwin-Williams from $355.00 to $375.00 and gave the stock a "hold" rating in a research report on Wednesday, July 29th. Mizuho set a $396.00 price target on shares of Sherwin-Williams and gave the stock an "outperform" rating in a research note on Thursday, September 24th. Argus upped their price target on shares of Sherwin-Williams from $355.00 to $380.00 in a research report on Thursday, August 27th. Finally, UBS Group reaffirmed a "neutral" rating and set a $370.00 price objective (up from $363.00) on shares of Sherwin-Williams in a research note on Wednesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $377.29.

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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