iA Global Asset Management Inc. Sells 2,973 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• iA Global Asset Management Inc. reduced its holdings in Sherwin-Williams by 3.5%, selling 2,973 shares, leaving them with 82,690 shares valued at approximately $28.9 million.
• Several hedge funds have entered or increased their stakes in Sherwin-Williams, with institutional investors now owning 77.67% of the company's stock.
• Sherwin-Williams reported $3.38 EPS for the last quarter, missing the consensus estimate of $3.76, while also announcing a quarterly dividend of $0.79 per share.

iA Global Asset Management Inc. decreased its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 82,690 shares of the specialty chemicals company's stock after selling 2,973 shares during the quarter. iA Global Asset Management Inc.'s holdings in Sherwin-Williams were worth $28,875,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SHW. Park Square Financial Group LLC acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $27,000. Perkins Coie Trust Co bought a new stake in Sherwin-Williams during the 1st quarter worth approximately $27,000. Synergy Investment Management LLC increased its holdings in Sherwin-Williams by 583.3% during 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 in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in Sherwin-Williams during the 1st quarter valued at $30,000. Finally, HWG Holdings LP bought a new position in Sherwin-Williams in the 1st quarter valued at $46,000. Institutional investors own 77.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SHW. Wells Fargo & Company lowered their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. BMO Capital Markets reduced their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Loop Capital decreased their price target 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. Finally, Bank of America raised their price target on shares of Sherwin-Williams from $289.00 to $296.00 and gave the company an "underperform" rating in a report on Monday, June 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Trading Down 0.2%

Shares of SHW stock traded down $0.71 on Thursday, reaching $350.02. The company had a trading volume of 1,410,271 shares, compared to its average volume of 1,925,830. The stock has a market cap of $87.27 billion, a PE ratio of 34.72, a PEG ratio of 3.32 and a beta of 1.16. The company has a 50-day moving average of $345.71 and a 200-day moving average of $348.03. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results 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). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 EPS. On average, equities analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's payout ratio is currently 31.35%.

Sherwin-Williams 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.