Cove Private Wealth LLC Makes New Investment in The Sherwin-Williams Company (NYSE:SHW)

Cove Private Wealth LLC purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,449 shares of the specialty chemicals company’s stock, valued at approximately $493,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Valued Wealth Advisors LLC boosted its position in Sherwin-Williams by 88.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 32 shares during the last quarter. First Personal Financial Services acquired a new position in shares of Sherwin-Williams during the third quarter valued at $29,000. Semmax Financial Advisors Inc. boosted its holdings in Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 60 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Sherwin-Williams in the third quarter worth about $32,000. Finally, GHP Investment Advisors Inc. raised its holdings in Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analysts Set New Price Targets

SHW has been the topic of several recent research reports. Barclays raised their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Finally, Citigroup dropped their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $402.25.

Insider Activity

In related news, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the transaction, the senior vice president now owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. This trade represents a 35.06 % 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 hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of the business’s 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 directly owns 6,329 shares in the company, valued at $2,396,349.27. This trade represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $353.97 on Monday. The company has a fifty day moving average price of $363.89 and a 200 day moving average price of $359.85. The firm has a market cap of $89.15 billion, a PE ratio of 35.26, a PEG ratio of 2.39 and a beta of 1.22. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42.

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

About Sherwin-Williams

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.