Bank of New York Mellon Corp Has $473.24 Million Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Bank of New York Mellon Corp lessened its holdings in The Sherwin-Williams Company (NYSE:SHW) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,585,780 shares of the specialty chemicals company’s stock after selling 45,836 shares during the period. Bank of New York Mellon Corp owned 0.63% of Sherwin-Williams worth $473,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. First United Bank & Trust bought a new stake in shares of Sherwin-Williams during the 4th quarter worth about $31,000. Tortoise Investment Management LLC grew its holdings in Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Sherwin-Williams in the first quarter valued at approximately $47,000. Rise Advisors LLC lifted its stake in shares of Sherwin-Williams by 1,154.5% in the first quarter. Rise Advisors LLC now owns 138 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 127 shares during the last quarter. Finally, Rational Advisors LLC bought a new stake in shares of Sherwin-Williams during the 1st quarter worth $57,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SHW shares. The Goldman Sachs Group boosted their target price on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price target on Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. BMO Capital Markets boosted their target price on shares of Sherwin-Williams from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. KeyCorp increased their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $358.16.

Sherwin-Williams Price Performance

Shares of NYSE SHW traded up $1.66 during midday trading on Monday, reaching $360.39. 759,369 shares of the company traded hands, compared to its average volume of 1,617,194. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $363.13. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The stock’s 50-day simple moving average is $326.52 and its 200-day simple moving average is $321.39. The firm has a market cap of $91.38 billion, a PE ratio of 38.48, a PEG ratio of 2.79 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the business earned $3.29 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Sherwin-Williams Company 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.