Prestige Wealth Management Group LLC Raises Holdings in The Sherwin-Williams Company (NYSE:SHW)

Prestige Wealth Management Group LLC boosted its holdings in The Sherwin-Williams Company (NYSE:SHW) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,061 shares of the specialty chemicals company’s stock after buying an additional 69 shares during the period. Prestige Wealth Management Group LLC’s holdings in Sherwin-Williams were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in shares of Sherwin-Williams by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,047,174 shares of the specialty chemicals company’s stock valued at $399,675,000 after buying an additional 10,709 shares in the last quarter. Meridian Wealth Management LLC bought a new position in Sherwin-Williams in the third quarter worth $450,000. Great Valley Advisor Group Inc. grew its holdings in Sherwin-Williams by 35.6% in the third quarter. Great Valley Advisor Group Inc. now owns 2,726 shares of the specialty chemicals company’s stock worth $1,041,000 after purchasing an additional 716 shares during the period. Cerity Partners LLC increased its position in Sherwin-Williams by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 83,803 shares of the specialty chemicals company’s stock valued at $31,985,000 after buying an additional 5,201 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in shares of Sherwin-Williams by 9.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 960 shares of the specialty chemicals company’s stock worth $366,000 after purchasing an additional 79 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SHW shares. Morgan Stanley lowered their price target on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Mizuho decreased their target price on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada cut their price objective on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Zelman & Associates upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. Finally, Robert W. Baird set a $370.00 price objective on Sherwin-Williams in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $401.13.

Insider Buying and Selling

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $342.90 on Tuesday. The company has a market cap of $86.24 billion, a P/E ratio of 32.50, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42. The business has a fifty day moving average of $354.10 and a two-hundred day moving average of $364.49. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same quarter in the previous year, the business posted $1.81 earnings per share. As a group, analysts predict 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 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.92%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 3rd. Sherwin-Williams’s payout ratio is 29.95%.

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.