Zurcher Kantonalbank Zurich Cantonalbank Sells 26,345 Shares of The Sherwin-Williams Company (NYSE:SHW)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 19.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,979 shares of the specialty chemicals company’s stock after selling 26,345 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sherwin-Williams were worth $41,976,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV boosted its position in shares of Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock valued at $694,000 after buying an additional 209 shares during the last quarter. Tamar Securities LLC raised its holdings in shares of Sherwin-Williams by 3.4% in the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after purchasing an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Sherwin-Williams by 7.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 193 shares in the last quarter. Swedbank AB boosted its holdings in Sherwin-Williams by 4.2% during the third quarter. Swedbank AB now owns 117,055 shares of the specialty chemicals company’s stock worth $44,676,000 after purchasing an additional 4,681 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in shares of Sherwin-Williams by 24.1% during the 2nd quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after buying an additional 1,514 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SHW shares. Morgan Stanley upped their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Robert W. Baird raised their target price on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Jefferies Financial Group increased their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets lifted their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.47.

Insiders Place Their Bets

In related 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 transaction of $971,185.95. Following the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mary L. Garceau sold 15,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the sale, the senior vice president now owns 29,205 shares in the company, valued at $11,621,253.60. The trade was a 35.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $393.96 on Friday. The company has a 50 day moving average of $378.56 and a 200 day moving average of $346.30. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a 12 month low of $272.34 and a 12 month high of $400.42. The stock 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.

Sherwin-Williams (NYSE:SHW) last issued 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 business 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 business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 EPS. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is presently 28.49%.

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.