The Sherwin-Williams Company $SHW Stake Lessened by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR cut its Sherwin-Williams stake by 66.1% in the third quarter, selling 216,757 shares and retaining 111,386 shares worth about $36.0 million.
• Analysts give the stock a “Moderate Buy” consensus, with an average price target of $377.29; 15 rate it Buy and 12 rate it Hold.
• Sherwin-Williams reported quarterly revenue of $6.86 billion, above estimates, while earnings per share of $3.63 slightly missed consensus. It also announced a quarterly dividend of $0.80 per share.

Eurizon Capital SGR S.p.A. trimmed its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 66.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,386 shares of the specialty chemicals company's stock after selling 216,757 shares during the period. Eurizon Capital SGR S.p.A.'s holdings in Sherwin-Williams were worth $36,044,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Milestone Asset Management LLC purchased a new stake in shares of Sherwin-Williams during the third quarter worth approximately $3,153,000. Caisse de depot et placement du Quebec purchased a new position in Sherwin-Williams in the 2nd quarter valued at $5,473,000. William John Sempolinski purchased a new position in Sherwin-Williams in the 2nd quarter valued at $2,456,000. BlackRock Inc. acquired a new position in Sherwin-Williams in the 2nd quarter valued at $6,100,083,000. Finally, First Citizens Bank & Trust Co. increased its stake in Sherwin-Williams by 421.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,309 shares of the specialty chemicals company's stock valued at $1,393,000 after buying an additional 3,483 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Berenberg Bank upped their price objective on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Bank of America lifted their target price on shares of Sherwin-Williams from $369.00 to $383.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Morgan Stanley reiterated an "overweight" rating and set a $395.00 price target (up from $385.00) on shares of Sherwin-Williams in a research note 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 report on Thursday, September 24th. Finally, Barclays set a $329.00 price objective on shares of Sherwin-Williams and gave the company an "equal weight" rating in a research report on Wednesday, October 28th. Fifteen equities research 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 has an average rating of "Moderate Buy" and an average price target of $377.29.

Insider Activity at Sherwin-Williams

In other news, CAO James P. Lang sold 1,309 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $361.91, for a total transaction of $473,740.19. Following the completion of the sale, the chief accounting officer directly owned 861 shares in the company, valued at approximately $311,604.51. This trade represents a 60.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan J. Young sold 1,314 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $345.71, for a total value of $454,262.94. Following the sale, the senior vice president directly owned 10,045 shares in the company, valued at $3,472,656.95. This trade represents a 11.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,315 shares of company stock valued at $7,848,071 in the last ninety days. Company insiders own 0.23% of the company's stock.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $349.89 on Friday. The Sherwin-Williams Company has a one year low of $289.86 and a one year high of $377.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.45 and a current ratio of 0.71. The business has a fifty day moving average of $331.51 and a two-hundred day moving average of $333.13. The company has a market cap of $84.53 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 2.93 and a beta of 1.05.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share for the quarter, missing analysts' consensus estimates of $3.69 by ($0.06). The company 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 business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $3.59 earnings per share. As a group, analysts predict that The Sherwin-Williams Company will post 12.02 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

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

Sherwin-Williams Company Profile

The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.

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