Sumitomo Mitsui Trust Group Inc. Sells 37,029 Shares of The Sherwin-Williams Company $SHW

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 821,834 shares of the specialty chemicals company’s stock after selling 37,029 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.33% of Sherwin-Williams worth $266,299,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Robbins Farley lifted its stake in Sherwin-Williams by 0.8% during the fourth quarter. Robbins Farley now owns 11,877 shares of the specialty chemicals company’s stock worth $3,849,000 after purchasing an additional 93 shares during the last quarter. SFM LLC lifted its stake in Sherwin-Williams by 0.8% during the fourth quarter. SFM LLC now owns 4,274 shares of the specialty chemicals company’s stock worth $1,385,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in Sherwin-Williams during the fourth quarter worth about $1,025,000. Coerente Capital Management bought a new stake in Sherwin-Williams during the fourth quarter worth about $303,000. Finally, Strong Tower Advisory Services lifted its stake in Sherwin-Williams by 19.3% during the fourth quarter. Strong Tower Advisory Services now owns 11,076 shares of the specialty chemicals company’s stock worth $3,589,000 after purchasing an additional 1,793 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SHW. Citigroup dropped their price target on Sherwin-Williams from $410.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Wells Fargo & Company lowered Sherwin-Williams from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $410.00 to $365.00 in a research note on Friday. UBS Group dropped their price target on Sherwin-Williams from $420.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target for the company in a research note on Wednesday, January 7th. Finally, Mizuho dropped their price target on Sherwin-Williams from $410.00 to $371.00 and set an “outperform” rating for the company in a research note on Monday, March 23rd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $379.77.

Sherwin-Williams Trading Down 0.0%

Shares of SHW stock opened at $335.99 on Monday. The stock has a market capitalization of $83.11 billion, a PE ratio of 32.72, a P/E/G ratio of 2.91 and a beta of 1.27. The Sherwin-Williams Company has a 1-year low of $301.58 and a 1-year high of $379.65. The business has a 50-day moving average of $340.01 and a 200 day moving average of $338.69. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53.

Sherwin-Williams (NYSE:SHW) last issued its 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. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.Sherwin-Williams’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 EPS. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were issued a dividend of $0.80 per share. The ex-dividend date was Monday, March 2nd. This represents a $3.20 annualized dividend and a yield of 1.0%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.79. Sherwin-Williams’s dividend payout ratio (DPR) is currently 31.16%.

Insider Activity

In other Sherwin-Williams news, insider Colin M. Davie sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the transaction, the insider owned 5,365 shares of the company’s stock, valued at $1,928,717.50. This represents a 35.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bryan J. Young sold 2,513 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total value of $915,913.11. Following the transaction, the senior vice president directly owned 10,045 shares of the company’s stock, valued at $3,661,101.15. The trade was a 20.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

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.