Bank of New York Mellon Corp Has $585.36 Million Holdings 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 Form 13F filing with the Securities and Exchange Commission. The fund owned 1,676,326 shares of the specialty chemicals company's stock after selling 48,420 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of Sherwin-Williams worth $585,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Voleon Capital Management LP bought a new position in shares of Sherwin-Williams in the 4th quarter worth $2,011,000. Kingswood Wealth Advisors LLC grew its holdings in Sherwin-Williams by 25.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company's stock valued at $352,000 after buying an additional 201 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $306,000. Wealthcare Advisory Partners LLC boosted its position in shares of Sherwin-Williams by 18.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company's stock valued at $308,000 after acquiring an additional 137 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in Sherwin-Williams by 2.7% in the 4th quarter. Horizon Investments LLC now owns 6,031 shares of the specialty chemicals company's stock worth $2,050,000 after buying an additional 161 shares during the last quarter. Institutional investors own 77.67% of the company's stock.

Sherwin-Williams Price Performance

SHW stock traded up $6.24 on Wednesday, reaching $352.24. The company had a trading volume of 1,447,640 shares, compared to its average volume of 1,720,776. The company's fifty day moving average is $351.46 and its 200 day moving average is $347.93. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The company has a market cap of $88.27 billion, a P/E ratio of 33.29, a PEG ratio of 3.11 and a beta of 1.18. The Sherwin-Williams Company has a 1 year low of $297.86 and a 1 year high of $400.42.

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

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a dividend of $0.79 per share. The ex-dividend date was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.90%. Sherwin-Williams's dividend payout ratio is presently 29.87%.

Analysts Set New Price Targets

SHW has been the subject of several recent research reports. UBS Group boosted their price objective on Sherwin-Williams from $398.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley cut their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Barclays dropped their target price on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Royal Bank Of Canada raised their price target on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Citigroup downgraded Sherwin-Williams from a "buy" rating to a "neutral" rating and cut their target price for the company from $405.00 to $385.00 in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Sherwin-Williams currently has an average rating of "Moderate Buy" and a consensus target price of $391.94.

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.