Zions Bancorporation National Association UT Invests $5.20 Million in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Zions Bancorporation National Association UT has invested approximately $5.20 million in The Sherwin-Williams Company by acquiring 14,904 shares in the first quarter.
• Sherwin-Williams reported $3.38 EPS for the last quarter, missing expectations, with revenues matching consensus at $6.31 billion.
• Analysts have issued mixed ratings on the stock, with an average price target of $383.33, indicating a "Moderate Buy" sentiment among equity research analysts.

Zions Bancorporation National Association UT acquired a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,904 shares of the specialty chemicals company's stock, valued at approximately $5,204,000.

Several other institutional investors have also recently bought and sold shares of SHW. Townsquare Capital LLC boosted its position in Sherwin-Williams by 10.8% during the first quarter. Townsquare Capital LLC now owns 31,521 shares of the specialty chemicals company's stock worth $11,007,000 after purchasing an additional 3,076 shares during the period. Founders Financial Alliance LLC purchased a new position in shares of Sherwin-Williams during the first quarter worth approximately $308,000. Wolverine Asset Management LLC grew its holdings in shares of Sherwin-Williams by 75.0% in the first quarter. Wolverine Asset Management LLC now owns 3,500 shares of the specialty chemicals company's stock worth $1,222,000 after purchasing an additional 1,500 shares during the last quarter. Forsta AP Fonden boosted its holdings in Sherwin-Williams by 11.3% in the first quarter. Forsta AP Fonden now owns 75,900 shares of the specialty chemicals company's stock valued at $26,504,000 after acquiring an additional 7,700 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC boosted its holdings in Sherwin-Williams by 4.3% in the first quarter. Nicholson Wealth Management Group LLC now owns 4,337 shares of the specialty chemicals company's stock valued at $1,514,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHW shares. Citigroup lowered their price target 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. JPMorgan Chase & Co. lowered 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. BMO Capital Markets lowered their price target on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley decreased their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Bank of America boosted their target price 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Trading Up 0.8%

Sherwin-Williams stock traded up $2.65 during 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 stock has a market capitalization of $88.47 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 3.33 and a beta of 1.16. The stock's fifty day moving average is $345.58 and its 200 day moving average is $347.80. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78.

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 analysts' consensus estimates of $3.76 by ($0.38). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. Sherwin-Williams's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. As a group, equities 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. 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 is Friday, August 15th. Sherwin-Williams's dividend payout ratio (DPR) is currently 31.35%.

Insider Buying and Selling

In other news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The stock was 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 approximately $132,081.95. This trade represents 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. 0.60% of the stock is currently owned by corporate insiders.

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.