Advisors Asset Management Inc. Has $6.54 Million Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Advisors Asset Management Inc. trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,134 shares of the specialty chemicals company’s stock after selling 38 shares during the period. Advisors Asset Management Inc.’s holdings in Sherwin-Williams were worth $6,540,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SHW. Kirtland Hills Capital Management LLC raised its holdings in shares of Sherwin-Williams by 11.6% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 4,875 shares of the specialty chemicals company’s stock valued at $1,861,000 after purchasing an additional 506 shares during the period. MWA Asset Management bought a new stake in shares of Sherwin-Williams in the 3rd quarter valued at about $202,000. Prospera Private Wealth LLC bought a new stake in shares of Sherwin-Williams in the 3rd quarter valued at about $6,424,000. Avior Wealth Management LLC raised its holdings in shares of Sherwin-Williams by 2.0% in the 3rd quarter. Avior Wealth Management LLC now owns 3,977 shares of the specialty chemicals company’s stock valued at $1,518,000 after purchasing an additional 77 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Sherwin-Williams by 1.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 132,480 shares of the specialty chemicals company’s stock valued at $50,564,000 after purchasing an additional 1,632 shares during the period. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SHW. The Goldman Sachs Group increased their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Barclays raised their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on shares of Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $396.47.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’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 value of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the firm’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 transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE SHW opened at $371.66 on Thursday. 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 firm has a market capitalization of $93.60 billion, a price-to-earnings ratio of 37.02, a P/E/G ratio of 3.01 and a beta of 1.17. The firm’s 50 day simple moving average is $376.69 and its 200 day simple moving average is $343.40. The Sherwin-Williams Company has a 1 year low of $270.95 and a 1 year high of $392.57.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the business earned $3.20 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.77%. Sherwin-Williams’s dividend payout ratio is currently 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.