Camden National Bank Purchases Shares of 411 Sherwin-Williams Co (NYSE:SHW)

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Camden National Bank purchased a new stake in shares of Sherwin-Williams Co (NYSE:SHW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 411 shares of the specialty chemicals company’s stock, valued at approximately $226,000.

A number of other large investors have also recently modified their holdings of SHW. Vanguard Group Inc. lifted its holdings in shares of Sherwin-Williams by 0.7% in the second quarter. Vanguard Group Inc. now owns 7,262,410 shares of the specialty chemicals company’s stock worth $3,328,290,000 after buying an additional 51,401 shares in the last quarter. BlackRock Inc. lifted its stake in Sherwin-Williams by 1.7% in the second quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock worth $2,534,464,000 after acquiring an additional 90,828 shares during the period. Northern Trust Corp lifted its stake in Sherwin-Williams by 6.0% in the second quarter. Northern Trust Corp now owns 940,308 shares of the specialty chemicals company’s stock worth $430,934,000 after acquiring an additional 53,369 shares during the period. Nuveen Asset Management LLC lifted its stake in Sherwin-Williams by 10,335.5% in the second quarter. Nuveen Asset Management LLC now owns 910,704 shares of the specialty chemicals company’s stock worth $417,367,000 after acquiring an additional 901,977 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Sherwin-Williams by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 636,790 shares of the specialty chemicals company’s stock worth $291,833,000 after acquiring an additional 6,113 shares during the period. 76.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director David F. Hodnik sold 501 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.57, for a total value of $261,306.57. Following the transaction, the director now owns 9,569 shares in the company, valued at approximately $4,990,903.33. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David B. Sewell sold 4,709 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $493.52, for a total transaction of $2,323,985.68. Following the completion of the transaction, the insider now owns 12,604 shares in the company, valued at approximately $6,220,326.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,121 shares of company stock worth $6,134,153. 0.50% of the stock is owned by corporate insiders.

Shares of SHW traded down $8.69 during mid-day trading on Friday, hitting $550.01. 721,196 shares of the company traded hands, compared to its average volume of 446,683. Sherwin-Williams Co has a 1-year low of $355.28 and a 1-year high of $558.85. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $50.37 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 2.14 and a beta of 1.27. The business has a 50 day moving average of $536.12 and a 200 day moving average of $480.58.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.35 by $0.22. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the company posted $5.73 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Sherwin-Williams Co will post 21.12 EPS for the current fiscal year.

Several analysts have commented on the stock. Citigroup increased their price target on shares of Sherwin-Williams from $525.00 to $631.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley set a $600.00 price target on shares of Sherwin-Williams and gave the company a “buy” rating in a research report on Monday, August 12th. Deutsche Bank increased their price target on shares of Sherwin-Williams from $490.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. ValuEngine lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their price target on shares of Sherwin-Williams to $550.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $540.58.

Sherwin-Williams Profile

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

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

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