The Sherwin-Williams Company $SHW Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in The Sherwin-Williams Company (NYSE:SHW) by 2.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 159,351 shares of the specialty chemicals company’s stock after selling 4,737 shares during the quarter. M&T Bank Corp’s holdings in Sherwin-Williams were worth $55,177,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Sherwin-Williams by 1.1% in the third quarter. Wellington Management Group LLP now owns 1,261,996 shares of the specialty chemicals company’s stock valued at $436,979,000 after acquiring an additional 13,654 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its position in shares of Sherwin-Williams by 142.9% during the third quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 1,700 shares of the specialty chemicals company’s stock worth $589,000 after purchasing an additional 1,000 shares in the last quarter. NorthRock Partners LLC raised its stake in Sherwin-Williams by 63.1% in the 3rd quarter. NorthRock Partners LLC now owns 4,143 shares of the specialty chemicals company’s stock valued at $1,434,000 after purchasing an additional 1,603 shares during the last quarter. Prudential PLC lifted its holdings in Sherwin-Williams by 157.6% in the 3rd quarter. Prudential PLC now owns 16,090 shares of the specialty chemicals company’s stock valued at $5,571,000 after purchasing an additional 9,845 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in Sherwin-Williams by 17.5% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,563 shares of the specialty chemicals company’s stock valued at $541,000 after purchasing an additional 233 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Colin M. Davie sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the sale, the insider owned 5,365 shares in the company, valued at $1,928,717.50. This trade represents a 35.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan J. Young sold 2,513 shares of Sherwin-Williams stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the sale, the senior vice president directly owned 10,045 shares in the company, valued at approximately $3,661,101.15. The trade was a 20.01% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. UBS Group set a $420.00 price target on shares of Sherwin-Williams in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price target on the stock. in a research report on Thursday, January 22nd. Vertical Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective for the company in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada set a $390.00 price objective on shares of Sherwin-Williams and gave the company an “outperform” rating in a report on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $388.21.

Sherwin-Williams Stock Up 0.6%

Shares of SHW opened at $319.62 on Friday. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $379.65. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The stock has a fifty day simple moving average of $352.08 and a two-hundred day simple moving average of $344.53. The company has a market capitalization of $79.06 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.07. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were paid a $0.80 dividend. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.0%. Sherwin-Williams’s dividend payout ratio is currently 31.16%.

About Sherwin-Williams

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.