Huntington National Bank lowered its position in Sherwin-Williams Co. (NYSE:SHW) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,210 shares of the company’s stock after selling 240 shares during the period. Huntington National Bank’s holdings in Sherwin-Williams were worth $4,467,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC raised its position in shares of Sherwin-Williams by 57.2% in the second quarter. Advisory Services Network LLC now owns 2,603 shares of the company’s stock worth $765,000 after buying an additional 947 shares during the last quarter. ING Groep NV purchased a new position in shares of Sherwin-Williams during the second quarter worth $293,000. Candriam Luxembourg S.C.A. raised its position in shares of Sherwin-Williams by 32.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 31,000 shares of the company’s stock worth $9,104,000 after buying an additional 7,621 shares during the last quarter. Boston Advisors LLC purchased a new position in shares of Sherwin-Williams during the second quarter worth $20,017,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of Sherwin-Williams by 1,495.2% in the second quarter. Cullen Frost Bankers Inc. now owns 19,446 shares of the company’s stock worth $5,711,000 after buying an additional 18,227 shares during the last quarter. 74.62% of the stock is currently owned by institutional investors.
Sherwin-Williams Co. (NYSE:SHW) traded down 0.39% on Friday, hitting $268.40. The stock had a trading volume of 534,687 shares. The firm has a 50-day moving average of $277.67 and a 200 day moving average of $289.95. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of 22.63 and a beta of 0.92. Sherwin-Williams Co. has a 52 week low of $234.96 and a 52 week high of $312.48.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.16 by $0.10. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts predict that Sherwin-Williams Co. will post $12.64 earnings per share for the current year.
A number of equities research analysts recently commented on SHW shares. Argus raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday. Wells Fargo & Co. started coverage on Sherwin-Williams in a research report on Wednesday, September 28th. They issued a “market perform” rating for the company. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target for the company in a research report on Monday, September 26th. Credit Agricole SA reissued a “buy” rating and issued a $350.00 price target on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Finally, Sterne Agee CRT raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $324.85.
In related news, insider Joel D. Baxter sold 3,853 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the sale, the insider now directly owns 8,347 shares in the company, valued at $2,505,435.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John G. Morikis sold 30,353 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The disclosure for this sale can be found here. Corporate insiders own 1.89% of the company’s stock.
Sherwin-Williams Company Profile
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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