Granite Bay Wealth Management LLC Reduces Stake in The Sherwin-Williams Company (NYSE:SHW)

Granite Bay Wealth Management LLC lowered its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,477 shares of the specialty chemicals company's stock after selling 6,927 shares during the period. Granite Bay Wealth Management LLC's holdings in Sherwin-Williams were worth $5,763,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. First Hawaiian Bank boosted its holdings in shares of Sherwin-Williams by 0.5% during the 4th quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company's stock valued at $2,358,000 after buying an additional 34 shares in the last quarter. Tsfg LLC boosted its holdings in shares of Sherwin-Williams by 4.7% during the 4th quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company's stock valued at $235,000 after buying an additional 34 shares in the last quarter. Ellsworth Advisors LLC raised its position in shares of Sherwin-Williams by 0.9% in the 4th quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company's stock worth $1,281,000 after purchasing an additional 36 shares during the last quarter. Arthur M. Cohen & Associates LLC raised its position in shares of Sherwin-Williams by 4.7% in the 4th quarter. Arthur M. Cohen & Associates LLC now owns 848 shares of the specialty chemicals company's stock worth $263,000 after purchasing an additional 38 shares during the last quarter. Finally, Midwest Financial Group LLC raised its position in shares of Sherwin-Williams by 1.6% in the 3rd quarter. Midwest Financial Group LLC now owns 2,540 shares of the specialty chemicals company's stock worth $648,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 77.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wolfe Research assumed coverage on Sherwin-Williams in a research report on Friday, March 1st. They issued a "peer perform" rating for the company. Robert W. Baird reissued a "neutral" rating and issued a $300.00 target price (up previously from $270.00) on shares of Sherwin-Williams in a research report on Wednesday, January 3rd. Northcoast Research raised Sherwin-Williams from a "neutral" rating to a "buy" rating and set a $360.00 target price for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their target price on Sherwin-Williams from $285.00 to $317.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. Finally, StockNews.com raised Sherwin-Williams from a "hold" rating to a "buy" rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $326.50.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Justin T. Binns sold 1,563 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company's stock, valued at approximately $4,935,302.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now directly owns 9,329 shares in the company, valued at $2,925,014.66. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock worth $10,340,237 in the last three months. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded down $1.67 during mid-day trading on Friday, reaching $318.25. 1,280,164 shares of the company traded hands, compared to its average volume of 1,095,672. The company's 50 day moving average price is $328.49 and its 200-day moving average price is $295.72. The firm has a market cap of $80.98 billion, a PE ratio of 34.41, a PEG ratio of 2.54 and a beta of 1.15. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48. The Sherwin-Williams Company has a 52 week low of $221.76 and a 52 week high of $348.37.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm's revenue was up .4% on a year-over-year basis. On average, equities analysts expect that The Sherwin-Williams Company will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 26th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.90%. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.61. The ex-dividend date was Friday, February 23rd. Sherwin-Williams's dividend payout ratio is presently 30.92%.

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.