Commerce Bank Trims Position in The Sherwin-Williams Company (NYSE:SHW)

Commerce Bank trimmed its position in The Sherwin-Williams Company (NYSE:SHW) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,735 shares of the specialty chemicals company’s stock after selling 1,146 shares during the period. Commerce Bank’s holdings in Sherwin-Williams were worth $7,914,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SHW. Nations Financial Group Inc. IA ADV increased its stake in Sherwin-Williams by 13.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock worth $694,000 after acquiring an additional 209 shares during the last quarter. Tamar Securities LLC grew its position in Sherwin-Williams by 3.4% in the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after acquiring an additional 1,604 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Sherwin-Williams by 7.9% in the second 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 during the last quarter. Transcend Capital Advisors LLC lifted its position in 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 buying an additional 1,514 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after acquiring an additional 4,074 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, 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 currently owned by company insiders.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $383.32 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 company’s fifty day moving average price is $376.87 and its 200-day moving average price is $343.67. The stock has a market cap of $96.54 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The Sherwin-Williams Company has a 12 month low of $272.34 and a 12 month high of $392.57.

Sherwin-Williams (NYSE:SHW) last released its earnings results 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). The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.20 earnings per share. On average, equities analysts expect that The Sherwin-Williams Company will post 11.32 EPS 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 $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is presently 28.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHW shares. BMO Capital Markets boosted their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Robert W. Baird lifted their target price 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. Jefferies Financial Group increased their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley boosted their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $396.47.

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.