Webster Bank N. A. Decreases Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

14 Oct 2024, 13:18 by Mitch Edgeman · The Markets Daily

Webster Bank N. A. decreased its stake in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250 shares of the specialty chemicals company’s stock after selling 50 shares during the period. Webster Bank N. A.’s holdings in Sherwin-Williams were worth $95,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Crestmont Private Wealth LLC bought a new position in shares of Sherwin-Williams in the third quarter worth approximately $235,000. Exchange Traded Concepts LLC lifted its stake in shares of Sherwin-Williams by 135.6% in the third quarter. Exchange Traded Concepts LLC now owns 238 shares of the specialty chemicals company’s stock worth $91,000 after buying an additional 137 shares in the last quarter. HCR Wealth Advisors raised its holdings in shares of Sherwin-Williams by 42.2% during the third quarter. HCR Wealth Advisors now owns 1,834 shares of the specialty chemicals company’s stock valued at $700,000 after purchasing an additional 544 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Sherwin-Williams by 41.2% during the third quarter. Ritholtz Wealth Management now owns 9,328 shares of the specialty chemicals company’s stock valued at $3,560,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Sherwin-Williams by 8.8% during the third quarter. Valeo Financial Advisors LLC now owns 2,868 shares of the specialty chemicals company’s stock valued at $1,095,000 after purchasing an additional 232 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction 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 completion of the transaction, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SHW has been the subject of several research reports. Robert W. Baird boosted their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley upped their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays upped their target price on shares of Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $418.00 price objective on shares of Sherwin-Williams in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average target price of $370.39.

View Our Latest Stock Analysis on Sherwin-Williams

Sherwin-Williams Stock Up 0.7 %

Shares of Sherwin-Williams stock opened at $378.99 on Monday. The stock has a 50-day moving average price of $366.02 and a 200 day moving average price of $332.19. The company has a market cap of $95.60 billion, a P/E ratio of 38.63, a P/E/G ratio of 2.95 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $385.25.

Sherwin-Williams (NYSE:SHW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $3.29 EPS. As a group, analysts expect that The Sherwin-Williams Company will post 11.5 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s payout ratio is presently 29.15%.

About Sherwin-Williams

(Free Report)