UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in The Sherwin-Williams Company (NYSE:SHW) by 3.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,715,370 shares of the specialty chemicals company’s stock after selling 64,270 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sherwin-Williams were worth $654,705,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC raised its stake in shares of Sherwin-Williams by 18.2% in the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock worth $2,474,238,000 after purchasing an additional 999,164 shares during the last quarter. Legal & General Group Plc increased its position in Sherwin-Williams by 2.9% during the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after acquiring an additional 53,487 shares during the last quarter. PineStone Asset Management Inc. increased its position in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after acquiring an additional 917,979 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Sherwin-Williams by 18.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after acquiring an additional 238,031 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Sherwin-Williams by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company’s stock valued at $542,387,000 after acquiring an additional 15,843 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SHW. BMO Capital Markets upped their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Morgan Stanley upped their price objective on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Wells Fargo & Company upped their price target on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reduced their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $396.47.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 18.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,855 shares of company stock worth $12,572,756. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Price Performance

NYSE:SHW opened at $394.00 on Thursday. The firm has a market capitalization of $99.23 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 3.22 and a beta of 1.17. The Sherwin-Williams Company has a 1 year low of $272.34 and a 1 year high of $400.42. The business has a 50 day simple moving average of $378.27 and a 200-day simple moving average of $345.96. 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 posted 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). The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $3.20 earnings per share. Equities analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current 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 issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.73%. Sherwin-Williams’s payout ratio is 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.