Manitou Investment Management Ltd. trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW – Free Report) by 99.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181 shares of the specialty chemicals company’s stock after selling 58,209 shares during the period. Sherwin-Williams accounts for about 0.0% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 29th largest position. Manitou Investment Management Ltd.’s holdings in Sherwin-Williams were worth $69,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Griffin Asset Management Inc. boosted its stake in shares of Sherwin-Williams by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after purchasing an additional 26 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Sherwin-Williams by 2.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after purchasing an additional 28 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the last quarter. Finally, Conning Inc. boosted its stake in shares of Sherwin-Williams by 1.9% during the 2nd quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock worth $479,000 after purchasing an additional 30 shares during the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.
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 transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.
Sherwin-Williams Stock Down 0.8 %
Sherwin-Williams (NYSE:SHW – Get Free Report) last issued its quarterly earnings data 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 net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the business earned $3.20 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.
Sherwin-Williams Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s payout ratio is currently 28.49%.
Wall Street Analysts Forecast Growth
SHW has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective 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. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Jefferies Financial Group increased their price objective 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. Finally, Citigroup cut their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $395.29.
Read Our Latest Analysis on Sherwin-Williams
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.
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