Carnegie Investment Counsel Sells 1,707 Shares of The Sherwin-Williams Company (NYSE:SHW)

Carnegie Investment Counsel lessened its holdings in The Sherwin-Williams Company (NYSE:SHW) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,337 shares of the specialty chemicals company’s stock after selling 1,707 shares during the quarter. Sherwin-Williams makes up about 1.9% of Carnegie Investment Counsel’s investment portfolio, making the stock its 9th largest holding. Carnegie Investment Counsel owned about 0.07% of Sherwin-Williams worth $64,632,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC grew its stake in Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 45 shares during the last quarter. Semmax Financial Advisors Inc. increased its holdings in shares of Sherwin-Williams by 136.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 60 shares during the period. VitalStone Financial LLC lifted its position in Sherwin-Williams by 233.3% in the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Anfield Capital Management LLC bought a new stake in Sherwin-Williams in the 2nd quarter valued at about $38,000. Finally, Meeder Asset Management Inc. bought a new position in Sherwin-Williams in the 2nd quarter worth about $41,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Up 0.7 %

Shares of SHW stock opened at $378.99 on Friday. The firm has a fifty day moving average of $366.02 and a 200-day moving average of $332.30. The stock has a market cap of $96.09 billion, a price-to-earnings ratio of 40.40, a P/E/G ratio of 2.97 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $385.25. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the company earned $3.29 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts forecast that The Sherwin-Williams Company will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.75%. Sherwin-Williams’s payout ratio is presently 30.49%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SHW shares. Morgan Stanley increased their price target on Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. BMO Capital Markets boosted their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Robert W. Baird raised their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus target price of $370.39.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams 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.