SRB Corp Decreases Position in The Sherwin-Williams Company $SHW

Key Points

• SRB Corp reduced its holdings in The Sherwin-Williams Company by 55.8%, selling 141,390 shares and retaining 112,070 shares, which now represents 2.6% of its investment portfolio.
• Analysts have cut their price targets for Sherwin-Williams, with prices ranging from $375.00 to $385.00, while maintaining a consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.79 per share, with the ex-dividend date on August 15th, reflecting a 0.9% yield.

SRB Corp lessened its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 55.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,070 shares of the specialty chemicals company's stock after selling 141,390 shares during the quarter. Sherwin-Williams accounts for 2.6% of SRB Corp's investment portfolio, making the stock its 16th biggest position. SRB Corp's holdings in Sherwin-Williams were worth $39,134,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of Sherwin-Williams in the fourth quarter valued at about $27,000. Perkins Coie Trust Co purchased a new position in shares of Sherwin-Williams in the first quarter valued at about $27,000. Synergy Investment Management LLC increased its position in shares of 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 purchased a new position in shares of Sherwin-Williams in the first quarter valued at about $30,000. Finally, HWG Holdings LP purchased a new position in shares of Sherwin-Williams in the first quarter valued at about $46,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Citigroup cut their target price on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Bank of America raised shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $296.00 to $375.00 in a research note on Thursday, August 14th. Finally, Loop Capital cut their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $388.60.

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 shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, 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 legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by insiders.

Sherwin-Williams Trading Down 1.5%

NYSE:SHW opened at $359.04 on Tuesday. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The company's 50-day simple moving average is $346.02 and its 200 day simple moving average is $347.79. The firm has a market capitalization of $89.52 billion, a P/E ratio of 35.62, a PEG ratio of 3.44 and a beta of 1.16.

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

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's payout ratio is presently 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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