Icon Wealth Advisors LLC Buys 978 Shares of The Sherwin-Williams Company (NYSE:SHW)

Icon Wealth Advisors LLC boosted its stake in The Sherwin-Williams Company (NYSE:SHW) by 47.5% in the third quarter, HoldingsChannel reports. The firm owned 3,037 shares of the specialty chemicals company’s stock after acquiring an additional 978 shares during the period. Icon Wealth Advisors LLC’s holdings in Sherwin-Williams were worth $1,159,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SHW. PineStone Asset Management Inc. increased its stake in shares of Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after acquiring an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Sherwin-Williams by 610.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after purchasing an additional 898,143 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Sherwin-Williams by 40,317.4% in the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after purchasing an additional 724,907 shares during the period. Jensen Investment Management Inc. bought a new position in shares of Sherwin-Williams during the second quarter worth $169,770,000. Finally, 1832 Asset Management L.P. grew its holdings in shares of Sherwin-Williams by 54.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after buying an additional 496,326 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. StockNews.com upgraded Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $396.47.

Insiders Place Their Bets

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 in the company, valued at $2,396,349.27. This trade represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Up 1.3 %

SHW stock opened at $388.30 on Friday. The business’s 50 day simple moving average is $377.13 and its 200 day simple moving average is $344.18. The Sherwin-Williams Company has a 1-year low of $272.34 and a 1-year high of $392.57. The firm has a market capitalization of $97.79 billion, a PE ratio of 38.68, a PEG ratio of 3.09 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company earned $3.20 earnings per share. As a group, research analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 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.