Cornerstone Advisors LLC Decreases Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Cornerstone Advisors LLC reduced its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 24.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,900 shares of the specialty chemicals company’s stock after selling 1,600 shares during the period. Cornerstone Advisors LLC’s holdings in Sherwin-Williams were worth $1,462,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SHW. Capital World Investors lifted its position in shares of Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares during the last quarter. PineStone Asset Management Inc. lifted its position in shares of Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. lifted 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. purchased a new stake in Sherwin-Williams in the second quarter valued at $169,770,000. Finally, Public Employees Retirement Association of Colorado lifted its position in Sherwin-Williams by 8,986.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock valued at $166,592,000 after acquiring an additional 528,243 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’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 owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted 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. Wells Fargo & Company lifted their price objective on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI boosted their price target on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average target price of $362.68.

Sherwin-Williams Stock Performance

Shares of SHW opened at $379.14 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The company has a market capitalization of $96.13 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.94 and a beta of 1.17. The company’s 50 day simple moving average is $348.33 and its 200 day simple moving average is $327.03. The Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $380.13.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.19. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.29 earnings per share. On average, sell-side analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

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.