TIAA Trust National Association Sells 11,162 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• TIAA Trust National Association reduced its stake in Sherwin-Williams by 25.1%, holding 33,367 shares valued at approximately $11.65 million after selling 11,162 shares.
• Analysts have cut their price targets for Sherwin-Williams stock, with Citigroup lowering its forecast from $385.00 to $375.00, while UBS Group adjusted its target to $395.00 from $410.00.
• The company recently declared a quarterly dividend of $0.79 per share, representing an annualized total of $3.16 and a yield of 0.9%.

TIAA Trust National Association cut its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,367 shares of the specialty chemicals company's stock after selling 11,162 shares during the period. TIAA Trust National Association's holdings in Sherwin-Williams were worth $11,651,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its position in 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 last quarter. Capital Research Global Investors increased its position in 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 valued at $1,019,329,000 after purchasing an additional 960,724 shares during the period. Northern Trust Corp raised its holdings in 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 last quarter. Barclays PLC boosted its stake in shares of Sherwin-Williams by 54.2% in the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock valued at $704,855,000 after purchasing an additional 728,798 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Sherwin-Williams by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,826,498 shares of the specialty chemicals company's stock worth $620,881,000 after buying an additional 111,128 shares during the last quarter. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Trading Down 0.1%

Shares of SHW traded down $0.43 during trading hours on Thursday, hitting $350.30. The company had a trading volume of 90,449 shares, compared to its average volume of 1,766,609. The stock's 50 day moving average price is $345.83 and its 200 day moving average price is $348.05. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42. The firm has a market cap of $87.34 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.33 and a beta of 1.16.

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

Sherwin-Williams Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SHW shares. Bank of America lifted their target price on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a report on Monday, June 23rd. Mizuho dropped their price target on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has a consensus rating of "Moderate Buy" and a consensus 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.