JPMorgan Chase & Co. Sells 122,681 Shares of The Sherwin-Williams Company (NYSE:SHW)

JPMorgan Chase & Co. reduced its position in The Sherwin-Williams Company (NYSE:SHW) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,580,665 shares of the specialty chemicals company’s stock after selling 122,681 shares during the period. JPMorgan Chase & Co.’s holdings in Sherwin-Williams were worth $603,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC raised its holdings in shares of Sherwin-Williams by 88.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 32 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. First Personal Financial Services bought a new stake in Sherwin-Williams in the third quarter worth $29,000. Semmax Financial Advisors Inc. raised its stake in Sherwin-Williams by 136.4% during 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, FSA Wealth Management LLC purchased a new position in shares of Sherwin-Williams in the 3rd quarter worth $32,000. 77.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SHW shares. 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. Barclays upped their price objective on Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their target price on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Robert W. Baird raised their price target on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.63.

Insider Activity

In related news, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the sale, the senior vice president now owns 29,205 shares of the company’s stock, valued at $11,621,253.60. This trade represents a 35.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $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.

Sherwin-Williams Trading Down 0.6 %

SHW opened at $343.29 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The stock’s fifty day moving average is $372.62 and its two-hundred day moving average is $355.12. The company has a market capitalization of $86.46 billion, a P/E ratio of 34.19, a PEG ratio of 2.94 and a beta of 1.19. The Sherwin-Williams Company has a 52 week low of $282.09 and a 52 week high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 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 analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the business posted $3.20 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Analysts forecast that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a $0.715 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.83%. Sherwin-Williams’s payout ratio is presently 28.49%.

Sherwin-Williams 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.