SouthState Corp Sells 4,930 Shares of The Sherwin-Williams Company (NYSE:SHW)

SouthState Corp trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 78.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,380 shares of the specialty chemicals company’s stock after selling 4,930 shares during the quarter. SouthState Corp’s holdings in Sherwin-Williams were worth $527,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SHW. Valued Wealth Advisors LLC grew its position in Sherwin-Williams by 88.9% during 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. HHM Wealth Advisors LLC boosted its position in shares of Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares during the period. First Personal Financial Services bought a new position in shares of Sherwin-Williams in the third quarter worth approximately $29,000. Semmax Financial Advisors Inc. boosted its position in shares of Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares during the period. Finally, VitalStone Financial LLC boosted its position in shares of Sherwin-Williams by 233.3% in the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 77 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SHW shares. Barclays upped their price target on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price on shares of Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $373.49 on Wednesday. The Sherwin-Williams Company has a 52-week low of $269.28 and a 52-week high of $392.57. The company has a market cap of $94.06 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.05 and a beta of 1.17. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The firm’s fifty day moving average is $376.69 and its 200 day moving average is $343.20.

Sherwin-Williams (NYSE:SHW) last issued 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). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 28.49%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’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 transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This represents a 18.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.