Key Points
- Chief Accounting Officer James Lang sold 1,309 Sherwin-Williams shares for about $473,740 at an average price of $361.91, reducing his direct stake by 60.32% to 861 shares.
- Sherwin-Williams reported quarterly revenue of $6.86 billion, up 7.9% year over year, but earnings per share of $3.63 fell short of the $3.69 analyst consensus.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $377.29; the company also announced a quarterly dividend of $0.80 per share.
The Sherwin-Williams Company (NYSE:SHW - Get Free Report) CAO James Lang sold 1,309 shares of the firm's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $361.91, for a total value of $473,740.19. Following the completion of the sale, the chief accounting officer directly owned 861 shares of the company's stock, valued at $311,604.51. This trade represents a 60.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Sherwin-Williams Stock Performance
Shares of SHW opened at $344.26 on Friday. The stock has a market capitalization of $83.17 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.93 and a beta of 1.05. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $377.77. The company's fifty day moving average is $329.67 and its two-hundred day moving average is $333.03. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.45 and a current ratio of 0.71.
Sherwin-Williams (NYSE:SHW - Get Free Report) last released its 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). The business had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.78 billion. Sherwin-Williams had a return on equity of 69.51% and a net margin of 10.74%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.59 earnings per share. On average, sell-side analysts predict that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.
Sherwin-Williams Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued 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 payout ratio is presently 29.41%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Sherwin-Williams in the 2nd quarter valued at $6,100,083,000. Wellington Management Group LLP boosted its stake in shares of Sherwin-Williams by 133.7% during 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 acquiring an additional 1,593,009 shares during the last quarter. Amundi increased its stake in Sherwin-Williams by 20.6% in the first quarter. Amundi now owns 2,200,895 shares of the specialty chemicals company's stock valued at $705,497,000 after purchasing an additional 376,505 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Sherwin-Williams during the 2nd quarter worth about $547,097,000. Finally, Dimensional Fund Advisors LP increased its stake in Sherwin-Williams by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,417,166 shares of the specialty chemicals company's stock worth $454,226,000 after acquiring an additional 39,853 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. DA Davidson set a $390.00 price target on Sherwin-Williams and gave the stock a "buy" rating in a research report on Wednesday, October 28th. Morgan Stanley restated an "overweight" rating and issued a $395.00 price target (up from $385.00) on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Mizuho set a $396.00 price target on Sherwin-Williams and gave the stock an "outperform" rating in a report on Thursday, September 24th. Berenberg Bank raised their price target on Sherwin-Williams from $380.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Melius Research assumed coverage on shares of Sherwin-Williams in a research report on Tuesday, October 6th. They issued a "hold" rating and a $367.00 target price on the stock. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.29.
Check Out Our Latest Report on Sherwin-Williams
About Sherwin-Williams
(
Get Free Report)
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.
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