The Sherwin-Williams Company (NYSE:SHW) CAO James P. Lang Sells 860 Shares

Key Points

• James P. Lang, the CAO of Sherwin-Williams, sold 860 shares at an average price of $350.35, reducing his ownership by 69.52% to 377 shares.
• Sherwin-Williams missed its most recent earnings estimate, reporting an EPS of $3.38, below the consensus of $3.76, although quarterly revenue was consistent at $6.31 billion.
• The company announced a quarterly dividend of $0.79 per share, with an annualized dividend yield of 0.9%, payable on September 5th for investors of record by August 15th.

The Sherwin-Williams Company (NYSE:SHW - Get Free Report) CAO James P. Lang sold 860 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the transaction, the chief accounting officer owned 377 shares of the company's stock, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sherwin-Williams Trading Up 0.6%

Sherwin-Williams stock traded up $2.26 during trading hours on Friday, reaching $352.19. The company had a trading volume of 1,628,313 shares, compared to its average volume of 1,935,526. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The company has a 50-day moving average price of $345.58 and a 200 day moving average price of $347.90. The firm has a market cap of $87.81 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 3.33 and a beta of 1.16. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42.

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

Sherwin-Williams Dividend Announcement

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

Analyst Ratings Changes

Several analysts have weighed in on SHW shares. Mizuho lowered their price target on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Bank of America raised their price target on Sherwin-Williams from $289.00 to $296.00 and gave the company an "underperform" rating in a report on Monday, June 23rd. BMO Capital Markets lowered their price target on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Citigroup lowered their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Finally, Loop Capital lowered their price target on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

Hedge Funds Weigh In On Sherwin-Williams

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Sherwin-Williams by 73.6% in the 4th 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 during the last quarter. FIL Ltd grew its position in shares of Sherwin-Williams by 42.7% in the 4th quarter. FIL Ltd now owns 174,620 shares of the specialty chemicals company's stock worth $59,359,000 after buying an additional 52,227 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Sherwin-Williams by 37.5% in the 4th quarter. Advisory Services Network LLC now owns 16,073 shares of the specialty chemicals company's stock worth $5,464,000 after buying an additional 4,384 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $695,000. Finally, Phoenix Financial Ltd. grew its position in shares of Sherwin-Williams by 556.8% in the 4th quarter. Phoenix Financial Ltd. now owns 4,151 shares of the specialty chemicals company's stock worth $1,411,000 after buying an additional 3,519 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

About Sherwin-Williams

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.