Westpac Banking Corp Trims Position in Sherwin-Williams Co (SHW)

Westpac Banking Corp cut its stake in Sherwin-Williams Co (NYSE:SHW) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,738 shares of the specialty chemicals company’s stock after selling 6,923 shares during the period. Westpac Banking Corp’s holdings in Sherwin-Williams were worth $6,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CAPROCK Group Inc. raised its holdings in shares of Sherwin-Williams by 9.1% in the fourth quarter. CAPROCK Group Inc. now owns 2,020 shares of the specialty chemicals company’s stock valued at $874,000 after buying an additional 169 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Sherwin-Williams by 3.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 279,976 shares of the specialty chemicals company’s stock valued at $114,802,000 after buying an additional 9,230 shares during the last quarter. National Pension Service raised its holdings in shares of Sherwin-Williams by 1.7% in the fourth quarter. National Pension Service now owns 76,444 shares of the specialty chemicals company’s stock valued at $31,345,000 after buying an additional 1,272 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Sherwin-Williams by 44.1% in the fourth quarter. Bank of Montreal Can now owns 65,250 shares of the specialty chemicals company’s stock valued at $26,755,000 after buying an additional 19,978 shares during the last quarter. Finally, Davis R M Inc. raised its holdings in shares of Sherwin-Williams by 3.8% in the fourth quarter. Davis R M Inc. now owns 41,870 shares of the specialty chemicals company’s stock valued at $17,168,000 after buying an additional 1,546 shares during the last quarter. 75.62% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Co (NYSE SHW) opened at $430.80 on Friday. Sherwin-Williams Co has a one year low of $280.14 and a one year high of $435.15. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 3.68. The stock has a market cap of $40,285.83, a PE ratio of 31.04, a PEG ratio of 1.97 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.05. Sherwin-Williams had a net margin of 7.82% and a return on equity of 58.02%. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the business posted $4.23 earnings per share. The business’s revenue was up 37.4% compared to the same quarter last year. research analysts predict that Sherwin-Williams Co will post 15.02 EPS for the current year.

In other Sherwin-Williams news, insider Joel D. Baxter sold 2,376 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $389.26, for a total transaction of $924,881.76. Following the transaction, the insider now directly owns 3,302 shares in the company, valued at $1,285,336.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert J. Davisson sold 1,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $407.11, for a total transaction of $407,110.00. The disclosure for this sale can be found here. Insiders have sold 15,122 shares of company stock worth $5,969,846 over the last 90 days. 1.69% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $475.00 target price on shares of Sherwin-Williams in a report on Wednesday, January 10th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $410.00 target price (up from $375.00) on shares of Sherwin-Williams in a report on Wednesday, October 4th. Citigroup upped their target price on shares of Sherwin-Williams from $405.00 to $442.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Jefferies Group boosted their price target on shares of Sherwin-Williams from $364.00 to $400.00 and gave the stock a “hold” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $417.39.

COPYRIGHT VIOLATION NOTICE: This report was published by Week Herald and is the sole property of of Week Herald. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://weekherald.com/2018/01/21/westpac-banking-corp-trims-position-in-sherwin-williams-co-shw.html.

Sherwin-Williams Profile

The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

Want to see what other hedge funds are holding SHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sherwin-Williams Co (NYSE:SHW).

Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

Receive News & Ratings for Sherwin-Williams Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply