King Luther Capital Management Corp trimmed its position in Sherwin-Williams Co (NYSE:SHW) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,228 shares of the specialty chemicals company’s stock after selling 500 shares during the period. King Luther Capital Management Corp’s holdings in Sherwin-Williams were worth $17,857,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of SHW. EdgePoint Investment Group Inc. purchased a new stake in Sherwin-Williams in the second quarter worth $287,828,000. Cornerstone Wealth Management LLC purchased a new stake in Sherwin-Williams in the third quarter worth $1,564,000. FMR LLC grew its stake in Sherwin-Williams by 12.7% in the third quarter. FMR LLC now owns 3,582,597 shares of the specialty chemicals company’s stock worth $1,630,834,000 after purchasing an additional 402,592 shares during the period. American Century Companies Inc. grew its stake in Sherwin-Williams by 6,366.3% in the second quarter. American Century Companies Inc. now owns 359,008 shares of the specialty chemicals company’s stock worth $146,321,000 after purchasing an additional 353,456 shares during the period. Finally, Prudential Financial Inc. grew its stake in Sherwin-Williams by 312.9% in the third quarter. Prudential Financial Inc. now owns 392,740 shares of the specialty chemicals company’s stock worth $178,779,000 after purchasing an additional 297,624 shares during the period. 76.27% of the stock is currently owned by institutional investors.
SHW stock opened at $406.60 on Thursday. Sherwin-Williams Co has a fifty-two week low of $355.28 and a fifty-two week high of $479.64. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.66 and a current ratio of 1.04. The stock has a market capitalization of $38.07 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.66 and a beta of 1.38.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 15th. Sherwin-Williams’s dividend payout ratio is 24.11%.
In other news, Director John M. Stropki bought 675 shares of the stock in a transaction on Monday, October 29th. The shares were bought at an average price of $375.00 per share, with a total value of $253,125.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Gabelli assumed coverage on Sherwin-Williams in a research note on Friday, September 21st. They issued a “buy” rating and a $553.00 price target on the stock. Seaport Global Securities cut Sherwin-Williams from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. They noted that the move was a valuation call. Edward Jones initiated coverage on Sherwin-Williams in a research note on Tuesday, September 4th. They issued a “hold” rating on the stock. ValuEngine cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Citigroup cut Sherwin-Williams from a “buy” rating to a “neutral” rating and cut their target price for the stock from $492.00 to $435.00 in a research note on Wednesday, October 10th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sherwin-Williams has a consensus rating of “Buy” and an average price target of $469.65.
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The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.
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