Stock Yards Bank & Trust Co. Cuts Stake in The Sherwin-Williams Company (NYSE:SHW)

Stock Yards Bank & Trust Co. reduced its position in The Sherwin-Williams Company (NYSE:SHW) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,351 shares of the specialty chemicals company’s stock after selling 531 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Sherwin-Williams were worth $4,283,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Waterloo Capital L.P. purchased a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $360,000. Valeo Financial Advisors LLC boosted its position in Sherwin-Williams by 7.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after acquiring an additional 193 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Sherwin-Williams by 7.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,533 shares of the specialty chemicals company’s stock valued at $532,000 after acquiring an additional 103 shares during the period. Brevan Howard Capital Management LP increased its holdings in shares of Sherwin-Williams by 259.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 6,998 shares of the specialty chemicals company’s stock valued at $2,183,000 after acquiring an additional 5,049 shares during the period. Finally, Transcend Capital Advisors LLC raised its position in shares of Sherwin-Williams by 24.1% in the 2nd quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after acquiring an additional 1,514 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SHW shares. Barclays raised their price objective on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company upped their price target on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $362.68.

Sherwin-Williams Stock Up 1.0 %

SHW stock opened at $379.14 on Tuesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The firm’s fifty day simple moving average is $348.33 and its 200-day simple moving average is $327.03. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $380.13. The company has a market capitalization of $96.13 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 2.94 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.51 by $0.19. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $3.29 earnings per share. As a group, equities research analysts forecast that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Insider Buying and Selling 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 sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.