The Sherwin-Williams Company $SHW Stock Position Reduced by Northern Trust Corp

Key Points

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Northern Trust Corp lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,565,468 shares of the specialty chemicals company's stock after selling 160,359 shares during the period. Northern Trust Corp owned about 1.02% of Sherwin-Williams worth $895,836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Square Financial Group LLC bought a new position in Sherwin-Williams during the fourth quarter valued at approximately $27,000. Perkins Coie Trust Co bought a new position in shares of Sherwin-Williams during the 1st quarter valued at $27,000. Synergy Investment Management LLC raised its holdings in shares of 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 shares of Sherwin-Williams in the 1st quarter valued at $30,000. Finally, HWG Holdings LP bought a new stake in Sherwin-Williams in the first quarter worth $46,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on SHW shares. JPMorgan Chase & Co. reduced their price target 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. Bank of America upgraded Sherwin-Williams from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $296.00 to $375.00 in a report on Thursday, August 14th. UBS Group lowered their price target on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company reduced 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 note on Wednesday, July 23rd. Finally, BMO Capital Markets decreased their price objective on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $388.60.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $359.04 on Tuesday. The firm's 50-day moving average is $346.02 and its 200-day moving average is $347.79. The company has a market cap of $89.52 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.44 and a beta of 1.16. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. 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 issued 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). The firm had revenue of $6.31 billion for 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 company's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Equities research analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Insider Buying and Selling

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.

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