Cypress Capital Group Reduces Position in The Sherwin-Williams Company (NYSE:SHW)

Cypress Capital Group trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 7,325 shares of the specialty chemicals company’s stock after selling 269 shares during the period. Cypress Capital Group’s holdings in Sherwin-Williams were worth $2,796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SHW. Nations Financial Group Inc. IA ADV boosted its stake in Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock worth $694,000 after buying an additional 209 shares during the last quarter. Tamar Securities LLC boosted its position in shares of Sherwin-Williams by 3.4% during the 3rd quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after acquiring an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Sherwin-Williams by 7.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 193 shares during the period. Transcend Capital Advisors LLC increased its position in Sherwin-Williams by 24.1% during the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock worth $37,449,000 after purchasing an additional 4,074 shares during the period. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHW has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Robert W. Baird raised their price objective on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.47.

Insider Buying and Selling

In other news, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 18.61 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Stock Performance

Shares of SHW opened at $371.66 on Thursday. The stock has a 50-day simple moving average of $376.69 and a 200-day simple moving average of $343.40. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The Sherwin-Williams Company has a 1 year low of $270.95 and a 1 year high of $392.57. The stock has a market capitalization of $93.60 billion, a PE ratio of 37.02, a PEG ratio of 3.01 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.20 EPS. On average, analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.77%. Sherwin-Williams’s payout ratio is currently 28.49%.

Sherwin-Williams Company 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.