True North Advisors LLC Sells 1,426 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• True North Advisors LLC reduced its holdings in The Sherwin-Williams Company by 14.7% in the first quarter, selling 1,426 shares and now owning 8,242 shares worth $2.88 million.
• Several institutional investors increased their positions in Sherwin-Williams during the last quarter, with Vanguard Group Inc. growing its holdings by 1.1%, amounting to over $7.7 billion in shares.
• The company recently announced a quarterly dividend of $0.79 to be paid on September 5th, providing a 0.9% yield based on its current share price.

True North Advisors LLC decreased its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,242 shares of the specialty chemicals company's stock after selling 1,426 shares during the period. True North Advisors LLC's holdings in Sherwin-Williams were worth $2,878,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SHW. Brighton Jones LLC raised its position in shares of Sherwin-Williams by 73.6% in the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company's stock worth $525,000 after buying an additional 655 shares in the last quarter. Phoenix Financial Ltd. grew its stake in shares of Sherwin-Williams by 556.8% during the fourth quarter. Phoenix Financial Ltd. now owns 4,151 shares of the specialty chemicals company's stock valued at $1,411,000 after buying an additional 3,519 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of Sherwin-Williams by 11.8% during the fourth quarter. Scotia Capital Inc. now owns 44,022 shares of the specialty chemicals company's stock valued at $14,966,000 after buying an additional 4,629 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Sherwin-Williams by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 103,434 shares of the specialty chemicals company's stock valued at $35,160,000 after buying an additional 910 shares during the last quarter. Finally, Tandem Wealth Advisors LLC grew its stake in shares of Sherwin-Williams by 5.6% during the fourth quarter. Tandem Wealth Advisors LLC now owns 888 shares of the specialty chemicals company's stock valued at $302,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Insiders Place Their Bets

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 shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the completion of the sale, the chief accounting officer directly owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Stock Up 1.1%

Shares of SHW stock traded up $3.74 during trading hours on Tuesday, hitting $358.32. 2,567,519 shares of the company's stock traded hands, compared to its average volume of 1,784,716. The stock's fifty day simple moving average is $345.57 and its two-hundred day simple moving average is $347.77. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. The stock has a market cap of $89.34 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 3.33 and a beta of 1.16. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. During the same quarter in the previous year, the business posted $3.70 earnings per share. Sherwin-Williams's revenue for the quarter was up .6% on a year-over-year basis. On average, analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 15th. Sherwin-Williams's payout ratio is presently 31.35%.

Analysts Set New Price Targets

Several research firms recently issued reports on SHW. Bank of America raised their target price on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. cut their target price on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada raised their target price on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets cut their target price on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Company Profile

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.