Sherwin-Williams (NYSE:SHW) Stock: Insider James Lang Sells 1,309 Shares

The Sherwin-Williams Company (NYSE:SHW) CAO James Lang sold 1,309 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $361.91, for a total value of $473,740.19. Following the sale, the chief accounting officer directly owned 861 shares in the company, valued at $311,604.51. This trade represents a 60.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Sherwin-Williams Stock Down 1.4%

SHW stock traded down $4.75 during trading on Friday, hitting $344.26. 1,926,786 shares of the company’s stock were exchanged, compared to its average volume of 1,955,207. The business has a 50-day moving average price of $329.69 and a two-hundred day moving average price of $333.05. The stock has a market capitalization of $83.17 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 3.03 and a beta of 1.05. The Sherwin-Williams Company has a 52-week low of $289.86 and a 52-week 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 results on Tuesday, October 27th. The specialty chemicals company reported $3.63 EPS 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 company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.78 billion. During the same quarter in the prior year, the company earned $3.59 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities 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. Stockholders of record on Friday, November 13th will be issued a $0.80 dividend. The ex-dividend date is Friday, November 13th. This represents a $3.20 annualized dividend and a dividend yield of 0.9%. Sherwin-Williams’s dividend payout ratio is presently 29.41%.

Hedge Funds Weigh In On Sherwin-Williams

A number of hedge funds have recently modified their holdings of SHW. BlackRock Inc. purchased a new position in Sherwin-Williams during the 2nd quarter worth $6,100,083,000. Wellington Management Group LLP raised its holdings in shares of Sherwin-Williams by 133.7% in the second quarter. Wellington Management Group LLP now owns 2,784,679 shares of the specialty chemicals company’s stock valued at $958,821,000 after buying an additional 1,593,009 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Sherwin-Williams in the second quarter valued at about $547,097,000. Legal & General Group Plc purchased a new stake in shares of Sherwin-Williams in the second quarter valued at about $459,652,000. Finally, Bank of America Corp DE acquired a new stake in shares of Sherwin-Williams during the second quarter worth about $412,339,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHW has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $353.00 price target on shares of Sherwin-Williams in a research note on Tuesday, October 27th. Wells Fargo & Company set a $340.00 price objective on shares of Sherwin-Williams and gave the company an “equal weight” rating in a research note on Friday, September 25th. Citigroup dropped their price objective on Sherwin-Williams from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Bank of America lifted their target price on Sherwin-Williams from $369.00 to $383.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.29.

About Sherwin-Williams

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.

Sherwin-Williams serves customers in North America and markets around the world.