First Trust Direct Indexing L.P. Purchases 1,324 Shares of The Sherwin-Williams Company (NYSE:SHW)

First Trust Direct Indexing L.P. grew its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 17.9% in the third quarter, Holdings Channel reports. The fund owned 8,739 shares of the specialty chemicals company’s stock after buying an additional 1,324 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Sherwin-Williams were worth $3,335,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SHW. Wealthcare Advisory Partners LLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $231,000. State of Alaska Department of Revenue lifted its stake in shares of Sherwin-Williams by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,549 shares of the specialty chemicals company’s stock valued at $8,873,000 after purchasing an additional 115 shares during the last quarter. Norden Group LLC purchased a new position in shares of Sherwin-Williams in the 1st quarter worth approximately $5,015,000. Massachusetts Wealth Management increased its position in shares of Sherwin-Williams by 2.9% during the 1st quarter. Massachusetts Wealth Management now owns 3,575 shares of the specialty chemicals company’s stock valued at $1,242,000 after purchasing an additional 100 shares during the last quarter. Finally, New Century Financial Group LLC raised its holdings in Sherwin-Williams by 9.9% during the 1st quarter. New Century Financial Group LLC now owns 756 shares of the specialty chemicals company’s stock valued at $263,000 after buying an additional 68 shares during the period. Institutional investors own 77.67% of the company’s stock.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction 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 directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SHW. Evercore ISI lowered their target price on shares of Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. 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 research note on Friday, October 18th. Citigroup reduced their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Barclays upped their target price on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $395.29.

Sherwin-Williams Stock Up 0.6 %

NYSE SHW traded up $2.08 during trading on Wednesday, hitting $363.70. The company’s stock had a trading volume of 328,131 shares, compared to its average volume of 1,532,164. The Sherwin-Williams Company has a fifty-two week low of $235.84 and a fifty-two week high of $392.57. The company has a market cap of $92.22 billion, a PE ratio of 38.55, a P/E/G ratio of 2.89 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The business’s 50 day simple moving average is $372.27 and its 200-day simple moving average is $335.73.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business earned $3.20 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.79%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

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.