Cinctive Capital Management LP Grows Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Cinctive Capital Management LP increased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 54.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 26,989 shares of the specialty chemicals company’s stock after acquiring an additional 9,476 shares during the period. Cinctive Capital Management LP’s holdings in Sherwin-Williams were worth $10,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHW. Griffin Asset Management Inc. grew its stake in Sherwin-Williams by 0.3% during 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 last quarter. Allworth Financial LP grew its position in Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in Sherwin-Williams by 47.5% in the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Capital Advisors Ltd. LLC raised 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 last quarter. Finally, First Interstate Bank lifted its position in Sherwin-Williams by 1.9% during the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock worth $560,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

SHW has been the topic of a number of recent research reports. Citigroup dropped their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets increased their price target 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. Robert W. Baird lifted their price objective on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price 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. Finally, JPMorgan Chase & Co. raised their price target on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target of $396.47.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $397.40 on Monday. The company has a market capitalization of $100.09 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.20 and a beta of 1.17. The stock has a fifty day moving average of $378.94 and a two-hundred day moving average of $347.31. The Sherwin-Williams Company has a fifty-two week low of $272.34 and a fifty-two week high of $400.42. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

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

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.72%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Insider Activity

In related news, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction 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 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. This represents a 28.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the transaction, the senior vice president now directly owns 29,205 shares in the company, valued at $11,621,253.60. This trade represents a 35.06 % 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 Company 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.