Vaughan Nelson Investment Management L.P. Cuts Stake in The Sherwin-Williams Company (NYSE:SHW)

Vaughan Nelson Investment Management L.P. decreased its stake in The Sherwin-Williams Company (NYSE:SHW) by 33.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 341,710 shares of the specialty chemicals company’s stock after selling 169,925 shares during the period. Sherwin-Williams makes up 1.2% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 27th largest position. Vaughan Nelson Investment Management L.P.’s holdings in Sherwin-Williams were worth $130,421,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Valued Wealth Advisors LLC raised its stake in shares of Sherwin-Williams by 88.9% in the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 32 shares during the period. First Personal Financial Services bought a new stake in shares of Sherwin-Williams in the third quarter valued at approximately $29,000. GHP Investment Advisors Inc. grew its stake in Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 28 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in shares of Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 45 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Sherwin-Williams in the third quarter worth $38,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 18.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI raised their price target on shares of Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

Sherwin-Williams Price Performance

SHW opened at $378.99 on Friday. The stock’s 50 day moving average price is $376.42 and its 200-day moving average price is $341.99. The Sherwin-Williams Company has a 52-week low of $264.54 and a 52-week high of $392.57. The stock has a market capitalization of $95.45 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 3.05 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

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

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 yield of 0.75%. Sherwin-Williams’s payout ratio is 28.49%.

About Sherwin-Williams

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.