Fifth Third Bancorp Has $116.10 Million Holdings in The Sherwin-Williams Company (NYSE:SHW)

Fifth Third Bancorp increased its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 334,262 shares of the specialty chemicals company's stock after purchasing an additional 11,570 shares during the period. Fifth Third Bancorp owned about 0.13% of Sherwin-Williams worth $116,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHW. OFI Invest Asset Management purchased a new position in shares of Sherwin-Williams during the third quarter valued at $25,000. Union Savings Bank acquired a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $28,000. First United Bank & Trust purchased a new stake in shares of Sherwin-Williams in the fourth quarter worth approximately $31,000. Lee Financial Co acquired a new stake in shares of Sherwin-Williams during the third quarter worth approximately $32,000. Finally, BluePath Capital Management LLC purchased a new position in Sherwin-Williams during the third quarter valued at approximately $33,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded up $1.12 during midday trading on Thursday, hitting $304.46. The company's stock had a trading volume of 1,520,861 shares, compared to its average volume of 1,480,916. The stock's 50 day simple moving average is $327.22 and its 200 day simple moving average is $300.64. The Sherwin-Williams Company has a fifty-two week low of $221.76 and a fifty-two week high of $348.37. The stock has a market capitalization of $77.47 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.41 and a beta of 1.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.46 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the company posted $2.04 earnings per share. The firm's revenue was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that The Sherwin-Williams Company will post 11.43 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams's dividend payout ratio is currently 30.49%.

Insider Activity at Sherwin-Williams

In related news, insider Justin T. Binns sold 1,563 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the firm's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at $4,935,302.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,050 shares of company stock worth $10,340,237. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

SHW has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. BMO Capital Markets reiterated an "outperform" rating and set a $377.00 price objective (down from $385.00) on shares of Sherwin-Williams in a report on Wednesday, April 24th. Barclays boosted their target price on Sherwin-Williams from $285.00 to $315.00 and gave the company an "equal weight" rating in a research note on Monday, January 29th. Seaport Res Ptn downgraded Sherwin-Williams from a "buy" rating to a "neutral" rating in a research note on Monday, January 8th. Finally, Wells Fargo & Company boosted their price target on Sherwin-Williams from $310.00 to $320.00 and gave the company an "equal weight" rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of "Moderate Buy" and a consensus price target of $341.39.

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.

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