Planning Capital Management Corp Cuts Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Planning Capital Management Corp lessened its stake in The Sherwin-Williams Company (NYSE:SHW) by 67.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115 shares of the specialty chemicals company’s stock after selling 235 shares during the period. Planning Capital Management Corp’s holdings in Sherwin-Williams were worth $44,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SHW. Griffin Asset Management Inc. increased its holdings in shares of Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after buying an additional 26 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Sherwin-Williams by 2.4% during the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after acquiring an additional 28 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 28 shares in the last quarter. Allworth Financial LP grew its position in Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank grew its position in shares of Sherwin-Williams by 1.9% during the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after acquiring an additional 28 shares during the period. Institutional investors own 77.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SHW. Robert W. Baird raised their target price on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Royal Bank of Canada dropped their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley increased their price objective on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $396.47.

Insider Activity at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This represents a 18.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Stock Up 0.3 %

Shares of NYSE SHW opened at $388.51 on Friday. The Sherwin-Williams Company has a 52 week low of $264.54 and a 52 week high of $392.57. The company has a market cap of $97.85 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 3.12 and a beta of 1.17. 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 firm’s fifty day moving average is $375.49 and its 200 day moving average is $340.86.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations 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 was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.20 EPS. On average, equities research analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. Sherwin-Williams’s dividend payout ratio (DPR) 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.