Transcend Capital Advisors LLC Lowers Stake in The Sherwin-Williams Company $SHW

Transcend Capital Advisors LLC lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,422 shares of the specialty chemicals company’s stock after selling 375 shares during the period. Transcend Capital Advisors LLC’s holdings in Sherwin-Williams were worth $2,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moors & Cabot Inc. boosted its position in shares of Sherwin-Williams by 0.4% during the first quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company’s stock worth $3,148,000 after buying an additional 39 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in Sherwin-Williams by 95.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 78,144 shares of the specialty chemicals company’s stock valued at $26,832,000 after acquiring an additional 38,228 shares during the period. Ransom Advisory Ltd purchased a new position in Sherwin-Williams during the 1st quarter valued at about $515,000. Moody Lynn & Lieberson LLC boosted its stake in shares of Sherwin-Williams by 138.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 20,402 shares of the specialty chemicals company’s stock valued at $7,005,000 after purchasing an additional 11,828 shares during the period. Finally, Lindenwold Advisors INC purchased a new position in shares of Sherwin-Williams in the second quarter valued at approximately $1,303,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sherwin-Williams

In related news, insider Justin T. Binns sold 609 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $368.82, for a total transaction of $224,611.38. Following the completion of the sale, the insider owned 17,922 shares in the company, valued at $6,609,992.04. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James P. Lang sold 860 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer owned 377 shares of the company’s stock, valued at $132,081.95. This represents a 69.52% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SHW shares. Loop Capital decreased their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Sherwin-Williams in a report on Wednesday, October 8th. Wells Fargo & Company set a $395.00 target price on Sherwin-Williams and gave the company an “overweight” rating in a report on Friday, October 10th. UBS Group reiterated a “buy” rating and issued a $400.00 target price (up from $395.00) on shares of Sherwin-Williams in a report on Monday, October 6th. Finally, Evercore ISI lifted their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.13.

Sherwin-Williams Stock Up 0.4%

Shares of NYSE SHW opened at $335.43 on Tuesday. The company has a market capitalization of $83.63 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 3.13 and a beta of 1.20. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The business has a 50-day moving average of $349.86 and a two-hundred day moving average of $348.29. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, November 14th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams’s payout ratio is presently 31.35%.

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.