Sherwin-Williams (NYSE:SHW) Stock: Insider James Jaye Sells 2,301 Shares

Key Points

• SVP James Jaye sold 2,301 Sherwin-Williams shares at an average $345.56, receiving about $795,134. He retained 6,936 shares after the sale, a 24.91% reduction in his holdings.
• Sherwin-Williams reported quarterly EPS of $3.63, missing analysts’ $3.69 estimate, while revenue of $6.86 billion beat expectations and rose 7.9% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $377.29. The company also announced a quarterly dividend of $0.80 per share.

The Sherwin-Williams Company (NYSE:SHW - Get Free Report) SVP James Jaye sold 2,301 shares of the company's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $345.56, for a total value of $795,133.56. Following the completion of the transaction, the senior vice president directly owned 6,936 shares in the company, valued at approximately $2,396,804.16. The trade was a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sherwin-Williams Stock Performance

SHW stock traded down $13.96 during midday trading on Thursday, reaching $349.54. The stock had a trading volume of 3,088,733 shares, compared to its average volume of 1,955,557. The firm has a fifty day simple moving average of $329.67 and a two-hundred day simple moving average of $333.09. The Sherwin-Williams Company has a 52-week low of $289.86 and a 52-week 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 stock has a market cap of $84.44 billion, a PE ratio of 32.13, a P/E/G ratio of 2.84 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 the consensus estimate of $3.69 by ($0.06). The firm had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.78 billion. Sherwin-Williams had a net margin of 10.74% and a return on equity of 69.51%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.59 EPS. As a group, equities research analysts anticipate that The Sherwin-Williams Company will post 12.02 EPS for the current year.

Sherwin-Williams Dividend Announcement

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

Hedge Funds Weigh In On Sherwin-Williams

Large investors have recently made changes to their positions in the company. Milestone Asset Management LLC purchased a new stake in Sherwin-Williams in the 3rd quarter valued at approximately $3,153,000. Caisse de depot et placement du Quebec purchased a new position in shares of Sherwin-Williams during the 2nd quarter worth approximately $5,473,000. William John Sempolinski acquired a new stake in shares of Sherwin-Williams in the 2nd quarter valued at approximately $2,456,000. BlackRock Inc. acquired a new stake in shares of Sherwin-Williams in the 2nd quarter valued at approximately $6,100,083,000. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of Sherwin-Williams by 421.7% in the third 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 in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SHW shares. Morgan Stanley restated an "overweight" rating and set a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Argus increased their price target on Sherwin-Williams from $355.00 to $380.00 in a research report on Thursday, August 27th. BNP Paribas Exane lifted their price objective on Sherwin-Williams from $345.00 to $360.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Berenberg Bank boosted their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Mizuho set a $396.00 target price on Sherwin-Williams and gave the stock an "outperform" rating in a research note on Thursday, September 24th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $377.29.

About Sherwin-Williams

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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