Parnassus Investments LLC Has $927.80 Million Position in The Sherwin-Williams Company (NYSE:SHW)

Parnassus Investments LLC reduced its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,430,906 shares of the specialty chemicals company’s stock after selling 53,274 shares during the period. Sherwin-Williams comprises about 2.0% of Parnassus Investments LLC’s investment portfolio, making the stock its 21st largest holding. Parnassus Investments LLC’s holdings in Sherwin-Williams were worth $927,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV boosted its position in shares of Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock worth $694,000 after buying an additional 209 shares during the period. Tamar Securities LLC boosted its position in shares of Sherwin-Williams by 3.4% during the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after buying an additional 1,604 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Sherwin-Williams by 7.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after buying an additional 193 shares during the period. Transcend Capital Advisors LLC boosted its position in shares of Sherwin-Williams by 24.1% during the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after buying an additional 1,514 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock worth $37,449,000 after acquiring an additional 4,074 shares in the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of analyst reports. 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 research note on Wednesday, October 23rd. Barclays raised 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, October 23rd. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Citigroup lowered their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Trading Down 1.0 %

Shares of SHW stock opened at $375.36 on Tuesday. The firm has a 50 day moving average price of $376.65 and a two-hundred day moving average price of $342.76. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $94.53 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 3.05 and a beta of 1.17. The Sherwin-Williams Company has a 12-month low of $269.28 and a 12-month high of $392.57.

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 for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business earned $3.20 earnings per share. As a group, analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given 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 0.76%. Sherwin-Williams’s payout ratio is 28.49%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams 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 completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by company insiders.

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.