M&T Bank Corp Sells 132,000 Shares of The Sherwin-Williams Company $SHW

Key Points

• M&T Bank Corp cut its stake in Sherwin-Williams by 82.8%, selling 132,000 shares and leaving it with 27,351 shares valued at about $8.86 million per its latest 13F filing.
• Two insiders recently sold stock — SVP Bryan J. Young sold 2,513 shares (~$915.9K) and Colin M. Davie sold 2,976 shares (~$1.07M), reducing their holdings by roughly 20% and 35.7%, respectively.
• Sherwin-Williams beat quarterly estimates (EPS $2.23 vs. $2.16; revenue $5.60B vs. $5.57B), declared a $0.80 quarterly dividend (annual $3.20, yield ~0.9%), and carries a consensus "Moderate Buy" with an average price target of $379.08 while trading near $337 (P/E ~32.8).

M&T Bank Corp lessened its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 82.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,351 shares of the specialty chemicals company's stock after selling 132,000 shares during the period. M&T Bank Corp's holdings in Sherwin-Williams were worth $8,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CFM Wealth Partners LLC lifted its stake in shares of Sherwin-Williams by 0.8% in the fourth quarter. CFM Wealth Partners LLC now owns 18,515 shares of the specialty chemicals company's stock worth $5,999,000 after buying an additional 145 shares in the last quarter. Optas LLC lifted its stake in shares of Sherwin-Williams by 15.7% in the fourth quarter. Optas LLC now owns 2,974 shares of the specialty chemicals company's stock worth $964,000 after buying an additional 403 shares in the last quarter. Ticino Wealth bought a new position in shares of Sherwin-Williams in the fourth quarter worth approximately $476,000. Novem Group lifted its stake in shares of Sherwin-Williams by 2.4% in the fourth quarter. Novem Group now owns 1,732 shares of the specialty chemicals company's stock worth $561,000 after buying an additional 40 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its stake in shares of Sherwin-Williams by 0.8% in the fourth quarter. Waterfront Wealth Inc. now owns 7,240 shares of the specialty chemicals company's stock worth $2,513,000 after buying an additional 57 shares in the last quarter. Institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, SVP Bryan J. Young sold 2,513 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares in the company, valued at $3,661,101.15. The trade was a 20.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the sale, the insider owned 5,365 shares of the company's stock, valued at approximately $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHW. Vertical Research upgraded shares of Sherwin-Williams from a "hold" rating to a "buy" rating and set a $371.00 target price on the stock in a research note on Wednesday, January 7th. UBS Group dropped their target price on shares of Sherwin-Williams from $420.00 to $380.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Mizuho dropped their target price on shares of Sherwin-Williams from $410.00 to $371.00 and set an "outperform" rating on the stock in a research note on Monday, March 23rd. Bank of America dropped their target price on shares of Sherwin-Williams from $370.00 to $365.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Sherwin-Williams in a research note on Friday, March 27th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $379.08.

Sherwin-Williams Stock Down 0.1%

Shares of Sherwin-Williams stock opened at $337.21 on Friday. The company has a market cap of $83.41 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.90 and a beta of 1.27. The company's 50 day moving average is $334.47 and its 200 day moving average is $338.31. The Sherwin-Williams Company has a twelve month low of $301.58 and a twelve month high of $379.65. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share 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 for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Research analysts anticipate that The Sherwin-Williams Company will post 11.82 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Sherwin-Williams Company 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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