Benin Management CORP Lowers Stake in The Sherwin-Williams Company (NYSE:SHW)

Benin Management CORP lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,852 shares of the specialty chemicals company’s stock after selling 85 shares during the period. Benin Management CORP’s holdings in Sherwin-Williams were worth $1,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vest Financial LLC grew its holdings in shares of Sherwin-Williams by 0.6% during the 3rd quarter. Vest Financial LLC now owns 146,964 shares of the specialty chemicals company’s stock valued at $56,092,000 after purchasing an additional 813 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Sherwin-Williams by 12.1% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 10,354 shares of the specialty chemicals company’s stock valued at $3,952,000 after purchasing an additional 1,116 shares during the last quarter. Waypoint Capital Advisors LLC bought a new position in shares of Sherwin-Williams during the 3rd quarter valued at $258,000. New Perspectives Inc bought a new position in shares of Sherwin-Williams during the 3rd quarter valued at $1,374,000. Finally, AA Financial Advisors LLC bought a new position in shares of Sherwin-Williams during the 3rd quarter valued at $264,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 1.0 %

Shares of SHW traded down $3.78 during trading hours on Monday, reaching $384.58. 239,698 shares of the company traded hands, compared to its average volume of 1,523,115. The company’s fifty day moving average price is $370.58 and its two-hundred day moving average price is $333.87. The company has a market capitalization of $97.51 billion, a price-to-earnings ratio of 41.40, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $392.57.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the company posted $3.29 EPS. Sherwin-Williams’s revenue was up .5% on a year-over-year basis. Equities research analysts predict that The Sherwin-Williams Company will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group raised their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. StockNews.com lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $383.35.

Insider Activity at Sherwin-Williams

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 legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Sherwin-Williams Company 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.