The Sherwin-Williams Company (NYSE:SHW) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has increased its stake in Sherwin-Williams by 9.8% during the 1st quarter, now owning 490,222 shares valued at $170.4 million.
• Wall Street analysts have lowered their price targets for Sherwin-Williams, with an average target now at $383.33 after recent ratings adjustments from several firms.
• The company recently announced a quarterly dividend of $0.79 per share, representing an annualized dividend of $3.16 and a yield of 0.9% for shareholders of record on August 15th.

Russell Investments Group Ltd. grew its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 490,222 shares of the specialty chemicals company's stock after buying an additional 43,856 shares during the period. Russell Investments Group Ltd. owned 0.20% of Sherwin-Williams worth $170,446,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SHW. Perkins Coie Trust Co purchased a new stake in Sherwin-Williams in the 1st quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in Sherwin-Williams in the 4th quarter valued at $27,000. Synergy Investment Management LLC raised its position in Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Sherwin-Williams in the 1st quarter valued at $30,000. Finally, HWG Holdings LP purchased a new stake in Sherwin-Williams in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 77.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHW. Loop Capital reduced their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company cut their price objective on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Citigroup cut their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Bank of America upped their price objective on shares of Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research report on Monday, June 23rd. Finally, Morgan Stanley cut their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $383.33.

Insider Buying and Selling at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of the 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 transaction, the chief accounting officer directly owned 377 shares in the company, valued at $132,081.95. This represents a 69.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $354.81 on Tuesday. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $400.42. The stock has a market cap of $88.47 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.33 and a beta of 1.16. The company's 50-day moving average price is $345.57 and its 200 day moving average price is $347.77. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (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 firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the business earned $3.70 earnings per share. Sherwin-Williams's revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

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