Lake Street Advisors Group LLC Grows Position in The Sherwin-Williams Company (NYSE:SHW)

Lake Street Advisors Group LLC increased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,838 shares of the specialty chemicals company’s stock after purchasing an additional 274 shares during the period. Lake Street Advisors Group LLC’s holdings in Sherwin-Williams were worth $2,228,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Sherwin-Williams by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after purchasing an additional 184,979 shares during the period. Capital International Investors boosted its position in Sherwin-Williams by 10.5% in the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock valued at $799,595,000 after buying an additional 219,149 shares during the period. Legal & General Group Plc boosted its position in Sherwin-Williams by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after buying an additional 53,487 shares during the period. PineStone Asset Management Inc. boosted its position in Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after buying an additional 917,979 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in Sherwin-Williams by 18.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after buying an additional 238,031 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHW has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. The Goldman Sachs Group boosted their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Insider Transactions at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction 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 sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded up $2.90 during mid-day trading on Friday, reaching $364.49. 203,110 shares of the company traded hands, compared to its average volume of 1,538,232. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.50. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $392.57. The company has a market capitalization of $92.42 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17. The firm’s fifty day moving average is $371.81 and its two-hundred day moving average is $334.64.

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). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the company posted $3.20 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts expect that The Sherwin-Williams Company will post 11.31 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.78%. Sherwin-Williams’s payout ratio is currently 30.49%.

Sherwin-Williams Company 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.