Citigroup Inc. Increases Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Citigroup Inc. increased its holdings in The Sherwin-Williams Company by 48.8%, owning 337,384 shares worth approximately $117.81 million at the end of the last quarter.
• Institutional investors and hedge funds collectively own 77.67% of Sherwin-Williams' stock, indicating strong institutional interest in the company.
• Sherwin-Williams declared a quarterly dividend of $0.79 per share, representing an annualized dividend yield of 0.9% with a payout ratio of 31.35%.

Citigroup Inc. lifted its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 48.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,384 shares of the specialty chemicals company's stock after buying an additional 110,637 shares during the period. Citigroup Inc. owned about 0.13% of Sherwin-Williams worth $117,811,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC increased its position in Sherwin-Williams by 2.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company's stock valued at $388,000 after acquiring an additional 30 shares during the last quarter. Opal Wealth Advisors LLC increased its position in Sherwin-Williams by 4.2% during the first quarter. Opal Wealth Advisors LLC now owns 791 shares of the specialty chemicals company's stock valued at $276,000 after acquiring an additional 32 shares during the last quarter. Nicolet Advisory Services LLC increased its position in Sherwin-Williams by 3.1% during the first quarter. Nicolet Advisory Services LLC now owns 1,096 shares of the specialty chemicals company's stock valued at $362,000 after acquiring an additional 33 shares during the last quarter. YANKCOM Partnership increased its position in Sherwin-Williams by 8.8% during the first quarter. YANKCOM Partnership now owns 420 shares of the specialty chemicals company's stock valued at $147,000 after acquiring an additional 34 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in Sherwin-Williams by 4.9% during the first quarter. Kornitzer Capital Management Inc. KS now owns 755 shares of the specialty chemicals company's stock valued at $264,000 after acquiring an additional 35 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the transaction, the chief accounting officer directly owned 377 shares in the company, valued at approximately $132,081.95. This trade represents a 69.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SHW. JPMorgan Chase & Co. reduced their price target on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Citigroup dropped their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley decreased their price objective on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Finally, Loop Capital decreased their price objective on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $383.33.

Sherwin-Williams Stock Up 0.8%

Shares of SHW stock traded up $2.65 during mid-day trading on Monday, hitting $354.81. The stock had a trading volume of 2,626,023 shares, compared to its average volume of 1,965,015. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The firm's 50-day moving average is $345.58 and its two-hundred day moving average is $347.80. The firm has a market capitalization of $88.47 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.33 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. During the same period last year, the business posted $3.70 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $0.79 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is currently 31.35%.

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.