DnB Asset Management AS Raises Stake in The Sherwin-Williams Company (NYSE:SHW)

DnB Asset Management AS boosted its holdings in The Sherwin-Williams Company (NYSE:SHW) by 9.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 55,820 shares of the specialty chemicals company’s stock after buying an additional 4,720 shares during the period. DnB Asset Management AS’s holdings in Sherwin-Williams were worth $18,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Sherwin-Williams during the 4th quarter valued at $1,359,747,000. Raymond James Financial Inc. purchased a new stake in shares of Sherwin-Williams in the fourth quarter worth about $230,829,000. Proficio Capital Partners LLC grew its stake in shares of Sherwin-Williams by 41,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 479,472 shares of the specialty chemicals company’s stock valued at $162,987,000 after buying an additional 478,320 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Sherwin-Williams by 28.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,032,170 shares of the specialty chemicals company’s stock valued at $690,796,000 after buying an additional 451,505 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Sherwin-Williams by 79.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 653,548 shares of the specialty chemicals company’s stock worth $219,945,000 after acquiring an additional 289,450 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Colin M. Davie sold 2,799 shares of the company’s stock in a transaction 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 directly owns 5,365 shares of the company’s stock, valued at $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHW has been the subject of several analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Mizuho lowered their target price on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley reduced their price target on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Zelman & Associates upgraded Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams presently has an average rating of “Moderate Buy” and a consensus target price of $401.13.

Sherwin-Williams Stock Performance

SHW stock opened at $339.77 on Friday. The stock’s fifty day moving average is $353.59 and its two-hundred day moving average is $363.91. The stock has a market capitalization of $85.46 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.98 and a beta of 1.23. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The Sherwin-Williams Company has a 1 year low of $282.09 and a 1 year high of $400.42.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $1.81 earnings per share. On average, research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.93%. Sherwin-Williams’s dividend payout ratio is presently 29.95%.

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.