Procyon Advisors LLC Decreases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Procyon Advisors LLC trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,879 shares of the specialty chemicals company’s stock after selling 441 shares during the period. Procyon Advisors LLC’s holdings in Sherwin-Williams were worth $898,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams in the 3rd quarter valued at approximately $25,000. Union Savings Bank acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $28,000. Providence Capital Advisors LLC raised its position in shares of Sherwin-Williams by 44,853.3% during the 1st quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 6,728 shares in the last quarter. Lee Financial Co acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $32,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $33,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Stock Down 0.2 %

Shares of SHW traded down $0.71 during midday trading on Thursday, reaching $346.18. 102,110 shares of the stock were exchanged, compared to its average volume of 1,415,203. The Sherwin-Williams Company has a 12-month low of $211.91 and a 12-month high of $347.71. The firm has a 50 day simple moving average of $321.19 and a 200-day simple moving average of $289.39. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. The company has a market cap of $88.09 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 2.53 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the business earned $1.89 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Research analysts forecast that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were issued a dividend of $0.715 per share. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.83%. Sherwin-Williams’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

SHW has been the topic of several analyst reports. Wolfe Research initiated coverage on Sherwin-Williams in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their price target on Sherwin-Williams from $285.00 to $317.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. The Goldman Sachs Group increased their price target on Sherwin-Williams from $295.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Robert W. Baird reissued a “neutral” rating and issued a $300.00 price target (up previously from $270.00) on shares of Sherwin-Williams in a research note on Wednesday, January 3rd. Finally, Northcoast Research raised Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price target for the company in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.39.

Insider Activity

In other news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the sale, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,050 shares of company stock valued at $10,340,237. Insiders own 0.60% of the company’s stock.

Sherwin-Williams 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.