Comerica Bank Has $34.90 Million Stock Position in The Sherwin-Williams Company $SHW

Key Points

• Comerica Bank trimmed its position in The Sherwin-Williams Company by 7.0%, selling 8,084 shares to hold 107,718 shares valued at $34,904,000 as of its latest 13F filing.
• Other large funds moved into SHW—Viking Global (+101.4%), Vanguard (+2.7%) and Assenagon (+424.2%) among them—leaving 77.67% of the stock owned by institutional investors and hedge funds.
• Analysts maintain a consensus of "Moderate Buy" with an average price target of $379.08, even as several firms trimmed targets recently; the company also announced a quarterly dividend of $0.80 per share (annualized $3.20, yield 0.9%).

Comerica Bank reduced its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 107,718 shares of the specialty chemicals company's stock after selling 8,084 shares during the period. Comerica Bank's holdings in Sherwin-Williams were worth $34,904,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SHW. Viking Global Investors LP raised its holdings in Sherwin-Williams by 101.4% during the 2nd quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company's stock worth $672,213,000 after buying an additional 985,520 shares during the period. Vanguard Group Inc. raised its holdings in Sherwin-Williams by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company's stock worth $7,529,752,000 after buying an additional 600,119 shares during the period. Assenagon Asset Management S.A. raised its holdings in Sherwin-Williams by 424.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 547,583 shares of the specialty chemicals company's stock worth $177,433,000 after buying an additional 443,119 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Sherwin-Williams during the 3rd quarter worth approximately $104,826,000. Finally, Amundi raised its holdings in Sherwin-Williams by 14.0% during the 3rd quarter. Amundi now owns 1,897,769 shares of the specialty chemicals company's stock worth $639,377,000 after buying an additional 232,436 shares during the period. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their price objective on shares of Sherwin-Williams from $390.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 19th. Vertical Research upgraded shares of Sherwin-Williams from a "hold" rating to a "buy" rating and set a $371.00 price objective on the stock in a report on Wednesday, January 7th. Zacks Research upgraded shares of Sherwin-Williams from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. UBS Group lowered their price objective on shares of Sherwin-Williams from $420.00 to $380.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Finally, Bank of America lowered their price objective on shares of Sherwin-Williams from $370.00 to $365.00 and set a "neutral" rating on the stock in a report on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Sherwin-Williams currently has an average rating of "Moderate Buy" and an average price target of $379.08.

Insiders Place Their Bets

In related news, SVP Bryan J. Young sold 2,513 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the transaction, the senior vice president directly owned 10,045 shares in the company, valued at approximately $3,661,101.15. The trade was a 20.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the business's stock in a transaction 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 transaction, the insider owned 5,365 shares in the company, valued at approximately $1,928,717.50. The trade was a 35.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by insiders.

Sherwin-Williams Price Performance

NYSE SHW opened at $337.21 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The Sherwin-Williams Company has a 12-month low of $301.58 and a 12-month high of $379.65. The company has a market capitalization of $83.41 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.90 and a beta of 1.27. The firm's 50 day moving average is $334.47 and its 200-day moving average is $338.33.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.07. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The firm's revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. Equities research analysts anticipate that The Sherwin-Williams Company will post 11.82 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, May 22nd. Sherwin-Williams's payout ratio is presently 31.16%.

Sherwin-Williams Profile

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.

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