Huntington National Bank Has $58.15 Million Stock Position in The Sherwin-Williams Company (NYSE:SHW)

14 Nov 2024, 18:14 by Kim Johansen · The Markets Daily

Huntington National Bank grew its position in The Sherwin-Williams Company (NYSE:SHW – Free Report) by 19.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 152,344 shares of the specialty chemicals company’s stock after purchasing an additional 25,037 shares during the period. Huntington National Bank’s holdings in Sherwin-Williams were worth $58,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valued Wealth Advisors LLC increased its stake in shares of 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 period. HHM Wealth Advisors LLC increased its stake in shares of Sherwin-Williams by 102.3% in the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 45 shares during the period. First Personal Financial Services acquired a new stake in shares of Sherwin-Williams during the third quarter worth $29,000. Semmax Financial Advisors Inc. grew its stake in shares of Sherwin-Williams by 136.4% during the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares during the period. Finally, VitalStone Financial LLC grew its stake in shares of Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 77 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SHW shares. KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Barclays lifted their price objective on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $396.47.

Read Our Latest Stock Report on SHW

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams stock opened at $387.29 on Thursday. The firm has a market cap of $97.54 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. The stock’s 50-day moving average is $375.00 and its 200-day moving average is $340.53. The Sherwin-Williams Company has a one year low of $258.52 and a one year high of $392.57. 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 – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The firm 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%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.20 earnings per share. Equities analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a yield of 0.74%. Sherwin-Williams’s payout ratio is presently 28.49%.

About Sherwin-Williams

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