Associated Banc Corp Acquires New Shares in The Sherwin-Williams Company (NYSE:SHW)

Associated Banc Corp bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 526 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in Sherwin-Williams by 2.9% in the second 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 last quarter. PineStone Asset Management Inc. raised its stake in shares of 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 acquiring an additional 917,979 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of 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 worth $454,917,000 after acquiring an additional 238,031 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sherwin-Williams by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company’s stock valued at $542,387,000 after purchasing an additional 15,843 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Sherwin-Williams by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after purchasing an additional 496,326 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $396.14 on Wednesday. The stock has a market cap of $99.77 billion, a P/E ratio of 39.46, a P/E/G ratio of 3.22 and a beta of 1.17. The Sherwin-Williams Company has a twelve month low of $272.34 and a twelve month high of $400.31. The stock has a 50 day moving average of $377.90 and a two-hundred day moving average of $345.63. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last released 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 business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.20 EPS. On average, research analysts forecast that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business 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 is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.72%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 28.49%.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,396,349.27. This trade represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SHW. JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. Jefferies Financial Group upped their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Wells Fargo & Company upped their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI boosted their target price on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.