LGT Group Foundation Sells 69,722 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• LGT Group Foundation has reduced its stake in The Sherwin-Williams Company by 37.5%, selling 69,722 shares to hold 116,263 shares valued at approximately $40.6 million.
• Multiple research analysts have revised their price targets for Sherwin-Williams, with a new average target of $383.33 amid a mix of ratings including "buy," "hold," and "sell" from various firms.
• Sherwin-Williams declared a quarterly dividend of $0.79, payable on September 5th, indicating an annual yield of 0.9%.

LGT Group Foundation lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,263 shares of the specialty chemicals company's stock after selling 69,722 shares during the quarter. LGT Group Foundation's holdings in Sherwin-Williams were worth $40,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Perkins Coie Trust Co bought a new stake in Sherwin-Williams in the first quarter valued at about $27,000. Park Square Financial Group LLC acquired a new position in Sherwin-Williams in the fourth quarter valued at about $27,000. Synergy Investment Management LLC grew its stake in Sherwin-Williams by 583.3% in the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in Sherwin-Williams in the first quarter valued at about $30,000. Finally, HWG Holdings LP acquired a new position in Sherwin-Williams in the first quarter valued at about $46,000. Institutional investors own 77.67% of the company's stock.

Wall Street Analyst Weigh In

SHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. UBS Group reduced their price objective on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped 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. Loop Capital reduced their price objective on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Citigroup reduced their price objective on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sherwin-Williams currently has an average rating of "Moderate Buy" and an average price target of $383.33.

Insider Buying and Selling

In related news, CAO James P. Lang sold 860 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the transaction, the chief accounting officer owned 377 shares of the company's stock, valued at $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $354.81 on Tuesday. The firm has a market cap 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. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The business's 50 day moving average is $345.57 and its 200-day moving average is $347.77.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. Sherwin-Williams's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $3.70 EPS. Equities research analysts predict 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 will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's payout ratio is 31.35%.

Sherwin-Williams Company Profile

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.

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