Victory Capital Management Inc. Sells 3,688 Shares of The Sherwin-Williams Company (NYSE:SHW)

Victory Capital Management Inc. lessened its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,592 shares of the specialty chemicals company’s stock after selling 3,688 shares during the quarter. Victory Capital Management Inc.’s holdings in Sherwin-Williams were worth $39,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHW. PineStone Asset Management Inc. boosted its position in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Sherwin-Williams by 610.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after buying an additional 898,143 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Sherwin-Williams by 40,317.4% in the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after buying an additional 724,907 shares in the last quarter. Jensen Investment Management Inc. purchased a new stake in shares of Sherwin-Williams in the second quarter worth about $169,770,000. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Sherwin-Williams by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after buying an additional 496,326 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Down 2.3 %

Shares of NYSE SHW opened at $378.99 on Friday. The Sherwin-Williams Company has a one year low of $264.54 and a one year high of $392.57. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The firm’s 50 day simple moving average is $376.06 and its two-hundred day simple moving average is $341.19. The stock has a market capitalization of $95.45 billion, a P/E ratio of 37.75, a PEG ratio of 3.12 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the previous year, the business earned $3.20 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is 28.49%.

Insider Transactions at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of recent analyst reports. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada lowered their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

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.