Lazard Asset Management LLC Lowers Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Lazard Asset Management LLC lowered its position in The Sherwin-Williams Company (NYSE:SHW) by 29.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 33,947 shares of the specialty chemicals company’s stock after selling 14,312 shares during the period. Lazard Asset Management LLC’s holdings in Sherwin-Williams were worth $11,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new stake in Sherwin-Williams during the fourth quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new stake in Sherwin-Williams during the fourth quarter worth about $28,000. Sierra Ocean LLC purchased a new stake in Sherwin-Williams during the fourth quarter worth about $36,000. WR Wealth Planners LLC increased its holdings in Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 35 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Sherwin-Williams during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $355.98 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $89.21 billion, a PE ratio of 33.74, a P/E/G ratio of 2.98 and a beta of 1.25. The Sherwin-Williams Company has a twelve month low of $282.09 and a twelve month high of $400.42. The company has a 50-day moving average price of $341.61 and a two-hundred day moving average price of $355.25.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the business earned $2.17 earnings per share. Sherwin-Williams’s revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $0.79 dividend. The ex-dividend date is Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.89%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.87%.

Insider Activity

In other news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the transaction, the insider now directly owns 5,365 shares in the company, valued at approximately $1,933,009.50. This trade represents a 34.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SHW shares. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a report on Friday, January 31st. Royal Bank of Canada raised their price objective on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Wells Fargo & Company upgraded shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $350.00 to $420.00 in a report on Wednesday, April 30th. Citigroup decreased their price objective on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Zelman & Associates upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $397.00.

Sherwin-Williams 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.