M&T Bank Corp Trims Holdings in The Sherwin-Williams Company $SHW

Key Points

• M&T Bank Corp trimmed its stake in The Sherwin‑Williams Company by 2.9% in Q3, selling 4,737 shares and retaining 159,351 shares worth about $55.18 million (roughly 0.06% of the company).
• Sherwin‑Williams beat quarterly expectations with $2.23 EPS versus $2.16 consensus and reported $5.60 billion in revenue, up 5.6% year‑over‑year.
• The company raised its quarterly dividend to $0.80 (annualized $3.20, ~1.0% yield), and analysts hold a Moderate Buy consensus with an average price target of $388.21.

M&T Bank Corp lowered its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,351 shares of the specialty chemicals company's stock after selling 4,737 shares during the period. M&T Bank Corp owned approximately 0.06% of Sherwin-Williams worth $55,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SHW. MTM Investment Management LLC purchased a new stake in shares of Sherwin-Williams in the 2nd quarter valued at $26,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Sherwin-Williams by 104.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 44 shares during the period. Rossby Financial LCC raised its holdings in shares of Sherwin-Williams by 96.0% during the third quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company's stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in Sherwin-Williams during the second quarter valued at $36,000. Finally, True Wealth Design LLC lifted its position in Sherwin-Williams by 129.8% during the third quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company's stock valued at $37,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 77.67% of the company's stock.

Sherwin-Williams Trading Up 0.6%

Shares of Sherwin-Williams stock opened at $319.62 on Friday. The firm has a 50-day simple moving average of $352.08 and a two-hundred day simple moving average of $344.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.53 and a current ratio of 0.87. The Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week high of $379.65. The company has a market cap of $79.06 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.07. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period last year, the firm earned $2.09 EPS. The company's quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were issued a $0.80 dividend. 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. This represents a $3.20 annualized dividend and a yield of 1.0%. Sherwin-Williams's dividend payout ratio is 31.16%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group set a $420.00 price target on Sherwin-Williams in a research report on Friday, January 30th. Mizuho boosted their price objective on Sherwin-Williams from $400.00 to $410.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft downgraded Sherwin-Williams from a "buy" rating to a "hold" rating and set a $380.00 target price on the stock. in a research note on Thursday, January 22nd. Vertical Research upgraded Sherwin-Williams from a "hold" rating to a "buy" rating and set a $371.00 price target for the company in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Sherwin-Williams in a report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $388.21.

Insider Buying and Selling

In other news, SVP Bryan J. Young sold 2,513 shares of the company's stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 10,045 shares of the company's stock, valued at $3,661,101.15. This represents a 20.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the transaction, the insider owned 5,365 shares in the company, valued at $1,928,717.50. This trade represents a 35.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

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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