Alkeon Capital Management LLC Sells 282 Shares of The Sherwin-Williams Company (NYSE:SHW)

Alkeon Capital Management LLC cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 306,970 shares of the specialty chemicals company’s stock after selling 282 shares during the period. Alkeon Capital Management LLC’s holdings in Sherwin-Williams were worth $117,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwest & Ethical Investments L.P. raised its holdings in Sherwin-Williams by 55.4% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 22,534 shares of the specialty chemicals company’s stock worth $8,601,000 after purchasing an additional 8,038 shares during the period. Financial Counselors Inc. increased its position in Sherwin-Williams by 6.6% in the third quarter. Financial Counselors Inc. now owns 26,133 shares of the specialty chemicals company’s stock worth $9,974,000 after buying an additional 1,625 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Sherwin-Williams by 14.0% in the third quarter. Public Sector Pension Investment Board now owns 8,980 shares of the specialty chemicals company’s stock worth $3,427,000 after buying an additional 1,100 shares during the period. Fiduciary Trust Co grew its stake in shares of Sherwin-Williams by 6.7% during the 3rd quarter. Fiduciary Trust Co now owns 5,978 shares of the specialty chemicals company’s stock valued at $2,282,000 after acquiring an additional 375 shares during the period. Finally, CreativeOne Wealth LLC increased its holdings in Sherwin-Williams by 8.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,999 shares of the specialty chemicals company’s stock worth $3,817,000 after acquiring an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE SHW opened at $393.96 on Friday. The business’s 50 day moving average price is $378.56 and its 200-day moving average price is $346.30. The Sherwin-Williams Company has a fifty-two week low of $272.34 and a fifty-two week high of $400.42. The company has a market cap of $99.22 billion, a P/E ratio of 39.24, a P/E/G ratio of 3.17 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data 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 firm had revenue of $6.16 billion for 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 company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.20 EPS. Sell-side analysts predict that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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 paid a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.73%. Sherwin-Williams’s dividend payout ratio is 28.49%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays lifted their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. Evercore ISI upped their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target of $396.47.

Insider Buying and Selling

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,396,349.27. The trade was a 28.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mary L. Garceau sold 15,770 shares of Sherwin-Williams stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 directly owns 29,205 shares of the company’s stock, valued at $11,621,253.60. This represents a 35.06 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

About Sherwin-Williams

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.