The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,630 shares of the specialty chemicals company’s stock after selling 327 shares during the period. Hartford Investment Management Co.’s holdings in Sherwin-Williams were worth $5,584,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SHW. PineStone Asset Management Inc. raised its position in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after acquiring an additional 917,979 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Sherwin-Williams by 610.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after purchasing an additional 898,143 shares during the last quarter. Jensen Investment Management Inc. acquired a new position in shares of Sherwin-Williams during the 2nd quarter worth about $169,770,000. 1832 Asset Management L.P. lifted its stake in 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Sherwin-Williams by 192.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 393,010 shares of the specialty chemicals company’s stock worth $116,322,000 after buying an additional 258,511 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. 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. Evercore ISI upped their target price on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Royal Bank of Canada restated an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a research report on Friday, August 30th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average target price of $386.29.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s 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 transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Sherwin-Williams Trading Up 0.5 %

NYSE:SHW traded up $1.81 on Wednesday, reaching $363.19. The company’s stock had a trading volume of 148,719 shares, compared to its average volume of 1,537,428. The firm has a market cap of $91.62 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 3.04 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $392.57. The stock has a 50 day moving average price of $371.59 and a 200 day moving average price of $334.45.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data 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 company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $3.20 earnings per share. On average, equities analysts anticipate that The Sherwin-Williams Company will post 11.49 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. Investors of record on Friday, November 15th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.79%. Sherwin-Williams’s payout ratio is currently 29.15%.

Sherwin-Williams Profile

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.