The Sherwin-Williams Company $SHW Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 14.4% during the third quarter, HoldingsChannel reports. The firm owned 98,044 shares of the specialty chemicals company’s stock after selling 16,547 shares during the period. Pictet Asset Management Holding SA’s holdings in Sherwin-Williams were worth $31,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SHW. Eastern Bank grew its holdings in shares of Sherwin-Williams by 50.8% during the second quarter. Eastern Bank now owns 89 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 30 shares during the last quarter. Focus Financial Network Inc. raised its stake in Sherwin-Williams by 1.0% during the 3rd quarter. Focus Financial Network Inc. now owns 3,068 shares of the specialty chemicals company’s stock valued at $992,000 after acquiring an additional 31 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Sherwin-Williams by 4.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 812 shares of the specialty chemicals company’s stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Heartland Bank & Trust Co raised its stake in Sherwin-Williams by 2.8% during the 1st quarter. Heartland Bank & Trust Co now owns 1,174 shares of the specialty chemicals company’s stock valued at $376,000 after acquiring an additional 32 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its position in Sherwin-Williams by 4.9% during the 3rd quarter. Childress Capital Advisors LLC now owns 713 shares of the specialty chemicals company’s stock worth $230,000 after acquiring an additional 33 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $353.00 target price on shares of Sherwin-Williams in a research note on Tuesday, October 27th. UBS Group restated a “neutral” rating and set a $370.00 price target (up from $363.00) on shares of Sherwin-Williams in a research note on Wednesday, October 28th. Berenberg Bank increased their price target on Sherwin-Williams from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. BNP Paribas Exane lifted their price objective on shares of Sherwin-Williams from $345.00 to $360.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Rothschild & Co Redburn boosted their price objective on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $377.29.

Insider Buying and Selling

In other news, insider Justin T. Binns sold 13,500 shares of Sherwin-Williams stock in a transaction that occurred 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 in the company, valued at approximately $7,737,179.90. This trade represents a 38.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mary Garceau sold 3,891 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $350.42, for a total value of $1,363,484.22. Following the sale, the senior vice president directly owned 31,466 shares in the company, valued at $11,026,315.72. This trade represents a 11.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,315 shares of company stock valued at $7,848,071 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

Sherwin-Williams Stock Performance

NYSE SHW opened at $355.59 on Wednesday. The stock has a market capitalization of $85.91 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 2.98 and a beta of 1.04. The business’s 50 day moving average is $330.26 and its two-hundred day moving average is $333.06. The Sherwin-Williams Company has a 12-month low of $289.86 and a 12-month high of $377.77. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 2.00.

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

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Sherwin-Williams’s dividend payout ratio is presently 29.41%.

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.