The Sherwin-Williams Company (NYSE:SHW) Position Increased by Allstate Corp

Allstate Corp boosted its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 5.4% in the first quarter, HoldingsChannel reports. The firm owned 740 shares of the specialty chemicals company’s stock after purchasing an additional 38 shares during the quarter. Allstate Corp’s holdings in Sherwin-Williams were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AIA Group Ltd grew its position in shares of Sherwin-Williams by 20.8% during the fourth quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock worth $5,088,000 after acquiring an additional 2,810 shares during the last quarter. Simplicity Solutions LLC increased its stake in shares of Sherwin-Williams by 182.2% in the fourth quarter. Simplicity Solutions LLC now owns 10,700 shares of the specialty chemicals company’s stock valued at $3,337,000 after purchasing an additional 6,909 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Sherwin-Williams by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock valued at $77,510,000 after buying an additional 13,984 shares during the last quarter. Waterloo Capital L.P. acquired a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $360,000. Finally, Trust Point Inc. bought a new position in Sherwin-Williams in the 4th quarter worth approximately $403,000. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Trading Up 0.2 %

Shares of SHW traded up $0.50 during midday trading on Monday, hitting $322.35. The stock had a trading volume of 2,350,401 shares, compared to its average volume of 1,592,814. The business has a 50-day simple moving average of $304.89 and a two-hundred day simple moving average of $313.54. The firm has a market cap of $81.73 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the business posted $2.04 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts forecast that The Sherwin-Williams Company will post 11.41 EPS for the current year.

Sherwin-Williams Dividend Announcement

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 given a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.89%. Sherwin-Williams’s payout ratio is presently 30.49%.

Analyst Upgrades and Downgrades

SHW has been the topic of several recent analyst reports. KeyCorp raised Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 target price on the stock in a research note on Thursday, April 25th. Evercore ISI upped their price objective on shares of Sherwin-Williams from $360.00 to $365.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. StockNews.com cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Mizuho reduced their price target on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $340.65.

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.