Skye Global Management LP Takes Position in The Sherwin-Williams Company (NYSE:SHW)

Skye Global Management LP acquired a new position in The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,100 shares of the specialty chemicals company’s stock, valued at approximately $802,000.

Several other institutional investors also recently made changes to their positions in the stock. Valued Wealth Advisors LLC boosted its position in Sherwin-Williams by 88.9% during the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 32 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. First Personal Financial Services acquired a new position in Sherwin-Williams during the third quarter worth about $29,000. Semmax Financial Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 60 shares in the last quarter. Finally, VitalStone Financial LLC increased its stake in shares of Sherwin-Williams by 233.3% during the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 77 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Down 0.6 %

NYSE SHW opened at $393.96 on Friday. The company’s fifty day moving average price is $378.56 and its two-hundred day moving average price is $346.30. The company has a market capitalization of $99.22 billion, a price-to-earnings ratio of 39.24, a price-to-earnings-growth ratio of 3.17 and a beta of 1.17. The Sherwin-Williams Company has a 12 month low of $272.34 and a 12 month high of $400.42. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51.

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

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.73%. Sherwin-Williams’s payout ratio is currently 28.49%.

Insider Activity at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total transaction 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. The trade was a 35.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,396,349.27. This represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

SHW has been the subject of a number of recent research reports. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Royal Bank of Canada decreased their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup decreased their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $396.47.

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.