The Sherwin-Williams Company $SHW Stake Reduced by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.3% during the third quarter, Holdings Channel reports. The fund owned 217,217 shares of the specialty chemicals company’s stock after selling 9,784 shares during the quarter. King Luther Capital Management Corp’s holdings in Sherwin-Williams were worth $70,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its position in Sherwin-Williams by 10.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,781 shares of the specialty chemicals company’s stock valued at $4,455,000 after buying an additional 1,302 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Sherwin-Williams by 0.9% during the 3rd quarter. Ritholtz Wealth Management now owns 6,997 shares of the specialty chemicals company’s stock worth $2,262,000 after purchasing an additional 63 shares during the last quarter. Joel Isaacson & Co. LLC increased its position in Sherwin-Williams by 4.4% in the third quarter. Joel Isaacson & Co. LLC now owns 1,140 shares of the specialty chemicals company’s stock worth $369,000 after buying an additional 48 shares during the last quarter. Jacobi Capital Management LLC lifted its holdings in Sherwin-Williams by 1.0% during the third quarter. Jacobi Capital Management LLC now owns 3,156 shares of the specialty chemicals company’s stock valued at $1,020,000 after purchasing an additional 30 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new stake in shares of Sherwin-Williams during the 3rd quarter valued at $3,870,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Justin T. Binns sold 13,500 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the completion of the sale, the insider directly owned 21,937 shares of the company’s stock, valued at approximately $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mary Garceau sold 3,891 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $350.42, for a total transaction of $1,363,484.22. Following the completion of the sale, the senior vice president directly owned 31,466 shares of the company’s stock, valued at approximately $11,026,315.72. This trade represents a 11.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,315 shares of company stock valued at $7,848,071. 0.23% of the stock is owned by company insiders.

Sherwin-Williams Stock Down 0.0%

Shares of SHW opened at $355.23 on Thursday. The Sherwin-Williams Company has a 12-month low of $289.86 and a 12-month high of $377.77. The business’s 50 day moving average is $330.77 and its 200 day moving average is $333.10. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $85.82 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share for the quarter, missing the consensus estimate of $3.69 by ($0.06). Sherwin-Williams had a net margin of 10.74% and a return on equity of 69.51%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.78 billion. During the same quarter in the prior year, the business earned $3.59 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts expect that The Sherwin-Williams Company will post 12.02 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.41%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays set a $329.00 price target on Sherwin-Williams and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Deutsche Bank lifted their target price on shares of Sherwin-Williams from $355.00 to $375.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and issued a $370.00 price objective (up from $363.00) on shares of Sherwin-Williams in a report on Wednesday, October 28th. DA Davidson set a $390.00 price target on Sherwin-Williams and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Finally, Wells Fargo & Company set a $340.00 target price on shares of Sherwin-Williams and gave the stock an “equal weight” rating in a report on Friday, September 25th. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $377.29.

Sherwin-Williams Profile

The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.