The Sherwin-Williams Company $SHW Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,869 shares of the specialty chemicals company’s stock after acquiring an additional 35,074 shares during the quarter. Bank of Nova Scotia owned 0.08% of Sherwin-Williams worth $69,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MTM Investment Management LLC acquired a new position in Sherwin-Williams during the second quarter worth $26,000. Vermillion & White Wealth Management Group LLC grew its holdings in Sherwin-Williams by 104.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Rossby Financial LCC increased its position in shares of Sherwin-Williams by 96.0% in the third quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of Sherwin-Williams in the second quarter valued at $36,000. Finally, True Wealth Design LLC raised its stake in shares of Sherwin-Williams by 129.8% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Trading Up 0.6%

Shares of SHW stock opened at $319.62 on Monday. The company has a market capitalization of $79.06 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 2.77 and a beta of 1.25. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $352.08 and a 200 day moving average price of $344.21. The Sherwin-Williams Company has a twelve month low of $308.84 and a twelve month high of $379.65.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.07. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. Research analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were issued a $0.80 dividend. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date was Monday, March 2nd. This represents a $3.20 annualized dividend and a yield of 1.0%. Sherwin-Williams’s payout ratio is presently 31.16%.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,976 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the sale, the insider owned 5,365 shares in the company, valued at $1,928,717.50. This trade represents a 35.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan J. Young sold 2,513 shares of Sherwin-Williams stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total value of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. This represents a 20.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of research reports. Vertical Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective on the stock in a research note on Wednesday, January 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Sherwin-Williams in a research report on Monday, December 29th. Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a research report on Monday, January 19th. Zacks Research cut shares of Sherwin-Williams from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft downgraded Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price objective for the company. in a research report on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $388.21.

About Sherwin-Williams

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.