Massachusetts Financial Services Co. MA Sells 121,047 Shares of The Sherwin-Williams Company $SHW

Key Points

• Massachusetts Financial Services cut its SHW position by 121,047 shares (a 6.7% reduction), leaving 1,678,365 shares worth roughly $543.84 million (about 0.68% of the company).
• Several analysts have trimmed price targets and ratings recently, leaving the stock with a MarketBeat average rating of Moderate Buy and an average price target of $379.77.
• Company insiders sold shares in February reducing their holdings, while Sherwin‑Williams increased its quarterly dividend to $0.80 (annualized $3.20) for a ~1.0% yield and a payout ratio near 31%.

Massachusetts Financial Services Co. MA decreased its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,678,365 shares of the specialty chemicals company's stock after selling 121,047 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.68% of Sherwin-Williams worth $543,841,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SHW. Cordatus Wealth Management LLC raised its position in Sherwin-Williams by 149.4% in the 3rd quarter. Cordatus Wealth Management LLC now owns 9,588 shares of the specialty chemicals company's stock worth $3,320,000 after buying an additional 5,744 shares during the last quarter. Nordea Investment Management AB raised its position in Sherwin-Williams by 16.1% in the 3rd quarter. Nordea Investment Management AB now owns 125,914 shares of the specialty chemicals company's stock worth $43,536,000 after buying an additional 17,422 shares during the last quarter. Wealthfront Advisers LLC raised its position in Sherwin-Williams by 26.1% in the 3rd quarter. Wealthfront Advisers LLC now owns 30,927 shares of the specialty chemicals company's stock worth $10,709,000 after buying an additional 6,408 shares during the last quarter. Mairs & Power Inc. raised its position in Sherwin-Williams by 0.7% in the 3rd quarter. Mairs & Power Inc. now owns 464,043 shares of the specialty chemicals company's stock worth $160,680,000 after buying an additional 3,430 shares during the last quarter. Finally, Inscription Capital LLC purchased a new position in Sherwin-Williams in the 3rd quarter worth about $1,069,000. Institutional investors own 77.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Sherwin-Williams from a "buy" rating to a "hold" rating and set a $380.00 target price for the company. in a research report on Thursday, January 22nd. UBS Group decreased their target price on Sherwin-Williams from $420.00 to $380.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Citigroup decreased their target price on Sherwin-Williams from $410.00 to $385.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada reduced their price target on shares of Sherwin-Williams from $390.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 19th. Finally, Wells Fargo & Company lowered shares of Sherwin-Williams from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $410.00 to $365.00 in a research report on Friday. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $379.77.

Insider Activity

In related news, SVP Bryan J. Young sold 2,513 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total value of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares of the company's stock, valued at approximately $3,661,101.15. This represents a 20.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Colin M. Davie sold 2,976 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 5,365 shares of the company's stock, valued at $1,928,717.50. This represents 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 owned by corporate insiders.

Sherwin-Williams Price Performance

NYSE SHW opened at $335.99 on Friday. The Sherwin-Williams Company has a 52 week low of $301.58 and a 52 week high of $379.65. The firm has a market capitalization of $83.11 billion, a P/E ratio of 32.72, a PEG ratio of 2.91 and a beta of 1.27. 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 company has a 50-day moving average price of $340.01 and a 200-day moving average price of $338.72.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.16 by $0.07. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.79. Sherwin-Williams's payout ratio is currently 31.16%.

About Sherwin-Williams

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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