Cypress Capital Group Sells 269 Shares of The Sherwin-Williams Company (NYSE:SHW)

Cypress Capital Group reduced its position in The Sherwin-Williams Company (NYSE:SHW) by 3.5% 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 7,325 shares of the specialty chemicals company’s stock after selling 269 shares during the quarter. Cypress Capital Group’s holdings in Sherwin-Williams were worth $2,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHW. Valued Wealth Advisors LLC increased its stake in Sherwin-Williams by 88.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 32 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Sherwin-Williams by 102.3% in the second 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 in the last quarter. First Personal Financial Services bought a new position in shares of Sherwin-Williams during the third quarter worth $29,000. Semmax Financial Advisors Inc. increased its holdings in shares of Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares during the last quarter. Finally, VitalStone Financial LLC grew its holdings in Sherwin-Williams by 233.3% during the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 77 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the sale, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Allen J. Mistysyn sold 14,520 shares of the 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 directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The trade was a 18.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $371.66 on Thursday. The company has a market capitalization of $93.60 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The company’s fifty day moving average price is $376.69 and its 200 day moving average price is $343.40. The Sherwin-Williams Company has a 1 year low of $270.95 and a 1 year high of $392.57.

Sherwin-Williams (NYSE:SHW) last posted 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 firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the company earned $3.20 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. On average, research analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is 28.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.