Mizuho Securities USA LLC Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Sherwin-Williams by 15.5%, owning 18,553 shares worth approximately $6.48 million at the end of the first quarter.
• Analysts have adjusted their price targets for Sherwin-Williams, with Citigroup lowering it to $375, while UBS Group set it at $395, resulting in a consensus target of $383.33.
• The company announced a quarterly dividend of $0.79 per share, to be paid to shareholders on September 5, representing an annualized yield of 0.90%.

Mizuho Securities USA LLC lowered its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,553 shares of the specialty chemicals company's stock after selling 3,407 shares during the quarter. Mizuho Securities USA LLC's holdings in Sherwin-Williams were worth $6,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHW. GAMMA Investing LLC raised its stake in shares of Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after buying an additional 1,632,391 shares during the last quarter. Capital Research Global Investors raised its stake 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 buying an additional 960,724 shares during the last quarter. Barclays PLC raised its stake in shares of Sherwin-Williams by 54.2% during the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock worth $704,855,000 after buying an additional 728,798 shares during the last quarter. Northern Trust Corp raised its stake 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 buying an additional 595,586 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Sherwin-Williams by 223.1% during the 1st quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company's stock worth $214,883,000 after buying an additional 424,930 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Sherwin-Williams Trading Up 0.8%

SHW traded up $2.65 during midday trading on Monday, hitting $354.81. The company's stock had a trading volume of 2,626,023 shares, compared to its average volume of 1,965,015. 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 firm has a market cap of $88.47 billion, a P/E ratio of 35.20, a PEG ratio of 3.33 and a beta of 1.16. The firm has a 50-day moving average price of $345.57 and a two-hundred day moving average price of $347.77. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly 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 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 firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.70 EPS. On average, research analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's payout ratio is presently 31.35%.

Insider Activity

In other news, CAO James P. Lang sold 860 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the completion of the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SHW shares. Loop Capital cut their price target on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Citigroup dropped their price objective on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, Bank of America lifted their price objective on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $383.33.

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.