L. Roy Papp & Associates LLP Decreases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

L. Roy Papp & Associates LLP reduced its position in The Sherwin-Williams Company (NYSE:SHW) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 8,710 shares of the specialty chemicals company’s stock after selling 240 shares during the period. L. Roy Papp & Associates LLP’s holdings in Sherwin-Williams were worth $3,324,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tamar Securities LLC raised its holdings in Sherwin-Williams by 3.4% in the 3rd quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after acquiring an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in Sherwin-Williams by 7.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after buying an additional 193 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in Sherwin-Williams by 24.1% during the 2nd quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after buying an additional 1,514 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Sherwin-Williams by 4.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after buying an additional 4,074 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Sherwin-Williams by 17.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,592 shares of the specialty chemicals company’s stock valued at $7,152,000 after buying an additional 3,031 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Price Performance

Sherwin-Williams stock traded down $2.55 during mid-day trading on Friday, hitting $359.04. The stock had a trading volume of 1,121,961 shares, compared to its average volume of 1,542,899. The firm has a market capitalization of $91.03 billion, a P/E ratio of 38.28, a P/E/G ratio of 2.87 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.50 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $372.00 and its 200 day moving average is $335.02. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $392.57.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data 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 company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the company earned $3.20 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts forecast that The Sherwin-Williams Company will post 11.31 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is 30.49%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SHW. BMO Capital Markets boosted their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Citigroup decreased their target price on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday. Barclays boosted their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Finally, Jefferies Financial Group boosted their price objective 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. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus price target of $395.29.

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.