Synovus Financial Corp Cuts Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Synovus Financial Corp cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 11.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,729 shares of the specialty chemicals company’s stock after selling 1,628 shares during the quarter. Synovus Financial Corp’s holdings in Sherwin-Williams were worth $4,858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Griffin Asset Management Inc. raised its holdings in Sherwin-Williams by 0.3% during the third 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 in the last quarter. Allworth Financial LP increased its position 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 valued at $595,000 after purchasing an additional 28 shares during the period. GHP Investment Advisors Inc. raised its stake 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 in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Sherwin-Williams by 2.4% in the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after buying an additional 28 shares during the period. Finally, First Interstate Bank boosted its stake in Sherwin-Williams by 1.9% during the third quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after buying an additional 28 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHW has been the topic of several research reports. Jefferies Financial Group boosted their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada dropped their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Finally, StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Trading Down 0.6 %

Shares of NYSE SHW opened at $364.50 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42. The business has a 50-day moving average price of $379.11 and a two-hundred day moving average price of $351.78. The firm has a market capitalization of $91.80 billion, a PE ratio of 36.30, a PEG ratio of 3.00 and a beta of 1.19.

Sherwin-Williams (NYSE:SHW) last posted 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 company had revenue of $6.16 billion during 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%. Sherwin-Williams’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $3.20 earnings per share. As a group, analysts predict 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 was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 28.49%.

Insider Buying and Selling

In related news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the sale, the senior vice president now owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is 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.