The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. reduced its holdings in The Sherwin-Williams Company by 46.3%, bringing its total to 2,230 shares valued at $781,000.
• Several analysts have adjusted their price targets for Sherwin-Williams stock, with Barclays lowering theirs from $385.00 to $355.00, while Royal Bank of Canada raised theirs from $410.00 to $420.00.
• The Sherwin-Williams Company announced a quarterly dividend of $0.79 per share, to be paid on September 5th, with a current annualized yield of 0.93%.

Phoenix Financial Ltd. cut its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 46.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,230 shares of the specialty chemicals company's stock after selling 1,921 shares during the quarter. Phoenix Financial Ltd.'s holdings in Sherwin-Williams were worth $781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC grew its holdings in shares of Sherwin-Williams by 1.6% during the 4th quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company's stock worth $2,239,715,000 after purchasing an additional 106,093 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sherwin-Williams by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company's stock worth $1,636,679,000 after purchasing an additional 96,571 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Sherwin-Williams by 2.0% during the 4th quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company's stock worth $1,467,138,000 after purchasing an additional 86,268 shares during the period. Capital Research Global Investors grew its holdings in shares of Sherwin-Williams by 47.1% during the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after purchasing an additional 960,724 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Sherwin-Williams by 28.0% during the 4th quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after purchasing an additional 595,586 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Stock Down 0.5%

Shares of SHW stock traded down $1.60 during trading hours on Wednesday, reaching $335.37. The company had a trading volume of 428,322 shares, compared to its average volume of 1,750,517. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The Sherwin-Williams Company has a twelve month low of $308.84 and a twelve month high of $400.42. The company has a market capitalization of $83.62 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 3.18 and a beta of 1.18. The stock's fifty day simple moving average is $347.20 and its 200 day simple moving average is $348.22.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The business had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 EPS. As a group, sell-side analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, August 15th. Sherwin-Williams's payout ratio is 31.35%.

Analyst Ratings Changes

SHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Loop Capital lowered their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. UBS Group lowered their target price on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley lowered their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho lowered their target price on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $383.33.

About Sherwin-Williams

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.