Bank of New York Mellon Corp Has $585.36 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Bank of New York Mellon Corp lowered its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,676,326 shares of the specialty chemicals company's stock after selling 48,420 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Sherwin-Williams worth $585,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Seascape Capital Management lifted its position in shares of Sherwin-Williams by 0.5% in the first quarter. Seascape Capital Management now owns 11,535 shares of the specialty chemicals company's stock worth $4,028,000 after buying an additional 59 shares during the last quarter. World Investment Advisors lifted its position in shares of Sherwin-Williams by 40.8% in the first quarter. World Investment Advisors now owns 2,332 shares of the specialty chemicals company's stock worth $814,000 after buying an additional 676 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Sherwin-Williams in the first quarter worth about $80,000. Eukles Asset Management lifted its position in shares of Sherwin-Williams by 2.7% during the 1st quarter. Eukles Asset Management now owns 12,678 shares of the specialty chemicals company's stock worth $4,427,000 after purchasing an additional 328 shares during the last quarter. Finally, Capital Investment Advisory Services LLC lifted its position in shares of Sherwin-Williams by 3.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 1,925 shares of the specialty chemicals company's stock worth $672,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SHW shares. Wells Fargo & Company raised Sherwin-Williams from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $350.00 to $420.00 in a research report on Wednesday, April 30th. Jefferies Financial Group reissued a "hold" rating and set a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Royal Bank Of Canada boosted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Mizuho set a $395.00 price objective on Sherwin-Williams in a research report on Tuesday, April 15th. Finally, Bank of America boosted their price objective on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $391.31.

Sherwin-Williams Price Performance

SHW stock traded down $2.36 during midday trading on Friday, reaching $350.16. 1,088,732 shares of the company's stock traded hands, compared to its average volume of 1,718,639. The company has a 50-day simple moving average of $351.21 and a two-hundred day simple moving average of $347.90. The Sherwin-Williams Company has a 1-year low of $296.40 and a 1-year high of $400.42. The company has a market cap of $87.75 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 3.18 and a beta of 1.18. The company has a quick ratio of 0.45, a current ratio of 0.77 and a debt-to-equity ratio of 1.90.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. The company's revenue was down 1.1% on a year-over-year basis. On average, analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were given a $0.79 dividend. The ex-dividend date was Friday, May 16th. This represents a $3.16 annualized dividend and a dividend yield of 0.90%. Sherwin-Williams's dividend payout ratio is currently 29.87%.

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.