Quest Partners LLC Has $2.06 Million Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Quest Partners LLC lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 24.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,392 shares of the specialty chemicals company’s stock after selling 1,717 shares during the quarter. Quest Partners LLC’s holdings in Sherwin-Williams were worth $2,058,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. PineStone Asset Management Inc. boosted its holdings in Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after purchasing an additional 917,979 shares during the period. Assenagon Asset Management S.A. boosted its stake 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 valued at $311,971,000 after buying an additional 898,143 shares during the period. International Assets Investment Management LLC increased its stake in Sherwin-Williams by 40,317.4% during the 3rd quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after acquiring an additional 724,907 shares during the period. Jensen Investment Management Inc. bought a new position in Sherwin-Williams during the 2nd quarter worth $169,770,000. Finally, 1832 Asset Management L.P. lifted its position in shares of Sherwin-Williams by 54.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after acquiring an additional 496,326 shares during the period. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction 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 completion of the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley raised their price target on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Robert W. Baird lifted their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $396.47.

Sherwin-Williams Price Performance

Shares of SHW opened at $375.36 on Tuesday. The firm has a market cap of $94.53 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 3.05 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $269.28 and a 52-week high of $392.57. The business’s 50 day moving average price is $376.65 and its two-hundred day moving average price is $342.76. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

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

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a yield of 0.76%. Sherwin-Williams’s payout ratio is currently 28.49%.

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.