1ST Source Bank Acquires New Position in The Sherwin-Williams Company (NYSE:SHW)

1ST Source Bank purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 564 shares of the specialty chemicals company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHW. Valued Wealth Advisors LLC raised its position in Sherwin-Williams by 88.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 32 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. First Personal Financial Services purchased a new stake in Sherwin-Williams in the third quarter valued at $29,000. Semmax Financial Advisors Inc. raised its stake in shares of Sherwin-Williams by 136.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 60 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Down 0.6 %

Sherwin-Williams stock opened at $364.50 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The firm has a 50 day moving average price of $379.11 and a 200 day moving average price of $351.78. The Sherwin-Williams Company has a fifty-two week low of $282.09 and a fifty-two week high of $400.42. The company has a market capitalization of $91.80 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 3.00 and a beta of 1.19.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS 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 firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the business earned $3.20 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Research analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. Morgan Stanley raised their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI raised their target price on Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $396.47.

Insider Activity

In related news, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the transaction, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the sale, the senior vice president now owns 29,205 shares in the company, valued at $11,621,253.60. The trade was a 35.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.