Adell Harriman & Carpenter Inc. Has $3.45 Million Holdings in The Sherwin-Williams Company (NYSE:SHW)

Adell Harriman & Carpenter Inc. cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,060 shares of the specialty chemicals company’s stock after selling 450 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Sherwin-Williams were worth $3,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SHW. FMR LLC boosted its stake in shares of Sherwin-Williams by 65.4% during the third quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock valued at $1,384,160,000 after purchasing an additional 2,146,102 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Sherwin-Williams during the fourth quarter valued at about $432,737,000. International Assets Investment Management LLC boosted its stake in shares of Sherwin-Williams by 2,853.9% during the fourth quarter. International Assets Investment Management LLC now owns 650,186 shares of the specialty chemicals company’s stock valued at $202,793,000 after purchasing an additional 628,175 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Sherwin-Williams by 188.3% during the third quarter. The Manufacturers Life Insurance Company now owns 758,914 shares of the specialty chemicals company’s stock valued at $193,561,000 after purchasing an additional 495,668 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Sherwin-Williams by 49.7% during the third quarter. Envestnet Asset Management Inc. now owns 985,909 shares of the specialty chemicals company’s stock valued at $251,456,000 after purchasing an additional 327,372 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 topic of a number of recent research reports. Wells Fargo & Company lifted their price target on Sherwin-Williams from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Citigroup lowered their target price on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their target price on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Wolfe Research started coverage on Sherwin-Williams in a report on Friday, March 1st. They set a “peer perform” rating for the company. Finally, Mizuho decreased their price objective on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $341.39.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Mary L. Garceau sold 23,518 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $322.66, for a total value of $7,588,317.88. Following the completion of the transaction, the senior vice president now directly owns 28,475 shares in the company, valued at approximately $9,187,743.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the transaction, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded down $0.36 during midday trading on Monday, reaching $306.09. 1,645,237 shares of the company traded hands, compared to its average volume of 1,468,281. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The Sherwin-Williams Company has a 12 month low of $221.76 and a 12 month high of $348.37. The firm has a market capitalization of $77.89 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The firm’s fifty day moving average price is $328.05 and its two-hundred day moving average price is $299.82.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 earnings per share. On average, equities analysts expect that The Sherwin-Williams Company will post 11.43 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.93%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

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.