Parnassus Investments LLC Trims Holdings in The Sherwin-Williams Company (NYSE:SHW)

Parnassus Investments LLC reduced its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,430,906 shares of the specialty chemicals company’s stock after selling 53,274 shares during the period. Sherwin-Williams comprises approximately 2.0% of Parnassus Investments LLC’s holdings, making the stock its 21st largest holding. Parnassus Investments LLC owned about 0.97% of Sherwin-Williams worth $927,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $22,291,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $228,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $252,000. Fifth Third Wealth Advisors LLC raised its position in shares of Sherwin-Williams by 7.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,454 shares of the specialty chemicals company’s stock valued at $1,318,000 after acquiring an additional 253 shares in the last quarter. Finally, OneAscent Financial Services LLC acquired a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $910,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Shares of SHW stock opened at $375.36 on Tuesday. The stock’s fifty day simple moving average is $376.65 and its 200 day simple moving average is $342.76. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The firm has a market cap of $94.53 billion, a price-to-earnings ratio of 37.39, a P/E/G ratio of 3.05 and a beta of 1.17. The Sherwin-Williams Company has a one year low of $269.28 and a one year high of $392.57.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.20 EPS. On average, analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share 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. Shareholders 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 yield of 0.76%. Sherwin-Williams’s payout ratio is 28.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Citigroup dropped their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Barclays increased their target price on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird increased their target price on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $396.47.

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.