SouthState Corp Sells 4,930 Shares of The Sherwin-Williams Company (NYSE:SHW)

SouthState Corp trimmed its position in The Sherwin-Williams Company (NYSE:SHW) by 78.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,380 shares of the specialty chemicals company’s stock after selling 4,930 shares during the quarter. SouthState Corp’s holdings in Sherwin-Williams were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Griffin Asset Management Inc. lifted its holdings in shares of Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after buying an additional 26 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Sherwin-Williams by 2.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after buying an additional 28 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 28 shares during the period. Allworth Financial LP lifted its holdings in shares of Sherwin-Williams by 1.8% in the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after buying an additional 28 shares during the period. Finally, First Interstate Bank lifted its holdings in shares of Sherwin-Williams by 1.9% in the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock worth $560,000 after buying an additional 28 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on SHW. The Goldman Sachs Group upped their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI upped their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup decreased their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Barclays upped their price objective on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $396.47.

Insiders Place Their Bets

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 stock was 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 owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Stock Down 0.5 %

Shares of SHW stock opened at $373.49 on Wednesday. The stock’s 50-day simple moving average is $376.69 and its 200-day simple moving average is $343.20. 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 firm has a market capitalization of $94.06 billion, a PE ratio of 37.20, a P/E/G ratio of 3.05 and a beta of 1.17. The Sherwin-Williams Company has a fifty-two week low of $269.28 and a fifty-two week high of $392.57.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.20 EPS. Equities analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 0.77%. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

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.