Sherwin-Williams (NYSE:SHW) CAO Sells 1,309 Shares of Company Stock

Key Points

• Sherwin-Williams Chief Accounting Officer James Lang sold 1,309 shares for about $473,740, reducing his direct ownership by 60.32% to 861 shares.
• The company’s latest quarter showed revenue up 7.9% year over year to $6.86 billion, beating expectations, while earnings per share of $3.63 slightly missed the $3.69 consensus estimate.
• Sherwin-Williams announced a quarterly dividend of $0.80 per share, equivalent to $3.20 annually and a 0.9% yield; analysts’ consensus rating was “Moderate Buy,” with a $377.29 target price.

The Sherwin-Williams Company (NYSE:SHW - Get Free Report) CAO James Lang sold 1,309 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $361.91, for a total value of $473,740.19. Following the completion of the transaction, the chief accounting officer directly owned 861 shares of the company's stock, valued at $311,604.51. The trade was a 60.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded down $4.75 during mid-day trading on Friday, hitting $344.26. The company had a trading volume of 1,926,786 shares, compared to its average volume of 1,955,207. The company has a market capitalization of $83.17 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 3.03 and a beta of 1.05. The Sherwin-Williams Company has a 12-month low of $289.86 and a 12-month high of $377.77. The company's fifty day moving average is $329.69 and its 200-day moving average is $333.05. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 2.00.

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

Sherwin-Williams Dividend Announcement

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

Hedge Funds Weigh In On Sherwin-Williams

A number of large investors have recently added to or reduced their stakes in the stock. Wilkerson Advisory Group LLC raised its holdings in shares of Sherwin-Williams by 172.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 79 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. GK Wealth Management LLC acquired a new position in shares of Sherwin-Williams during the third quarter worth $25,000. Whipplewood Advisors LLC acquired a new position in shares of Sherwin-Williams during the first quarter worth $28,000. Montgomery Financial Services LLC purchased a new position in Sherwin-Williams in the second quarter valued at $29,000. Finally, Tacita Capital Inc purchased a new position in Sherwin-Williams in the second quarter valued at $30,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SHW shares. Berenberg Bank raised their target price on Sherwin-Williams from $380.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings lowered Sherwin-Williams from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, October 28th. UBS Group reaffirmed a "neutral" rating and issued a $370.00 price target (up from $363.00) on shares of Sherwin-Williams in a report on Wednesday, October 28th. Bank of America increased their price target on Sherwin-Williams from $369.00 to $383.00 and gave the stock a "neutral" rating in a research report on Friday, July 17th. Finally, KeyCorp initiated coverage on Sherwin-Williams in a report on Thursday, September 10th. They issued a "sector weight" rating on the stock. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.29.

About Sherwin-Williams

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.

Sherwin-Williams serves customers in North America and markets around the world.

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