Sherwin-Williams (NYSE:SHW) Sees Unusually-High Trading Volume – Here’s What Happened

The Sherwin-Williams Company (NYSE:SHW) shares saw an uptick in trading volume on Wednesday . 502,305 shares changed hands during mid-day trading, a decline of 69% from the previous session’s volume of 1,640,606 shares.The stock last traded at $399.47 and had previously closed at $396.14.

Analyst Ratings Changes

Several equities research analysts have commented on SHW shares. JPMorgan Chase & Co. boosted their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Jefferies Financial Group increased their target price on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. Morgan Stanley upped their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Citigroup decreased their target price on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Trading Down 0.1 %

The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The company has a market cap of $99.71 billion, a P/E ratio of 39.46, a P/E/G ratio of 3.22 and a beta of 1.17. The business’s 50-day moving average price is $377.90 and its 200 day moving average price is $345.63.

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

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is presently 28.49%.

Insiders Place Their Bets

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 18.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction that occurred on 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 directly owns 6,329 shares in the company, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

A number of large investors have recently bought and sold shares of the business. Valued Wealth Advisors LLC increased its holdings 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 acquiring an additional 32 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in 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 during the period. First Personal Financial Services acquired a new position in Sherwin-Williams during the third quarter worth $29,000. Semmax Financial Advisors Inc. increased its holdings in shares of Sherwin-Williams by 136.4% in the 2nd 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 Sherwin-Williams in the third quarter valued at about $32,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

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.