Capital Group Investment Management PTE. LTD. Cuts Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Capital Group Investment Management PTE. LTD. decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,901 shares of the specialty chemicals company's stock after selling 1,352 shares during the period. Capital Group Investment Management PTE. LTD.'s holdings in Sherwin-Williams were worth $3,366,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Sherwin-Williams during the fourth quarter valued at approximately $1,359,747,000. Barclays PLC boosted its stake in Sherwin-Williams by 54.2% during 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. Raymond James Financial Inc. bought a new stake in shares of Sherwin-Williams in the 4th quarter worth $230,829,000. Proficio Capital Partners LLC raised its stake in shares of Sherwin-Williams by 41,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 479,472 shares of the specialty chemicals company's stock worth $162,987,000 after purchasing an additional 478,320 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Sherwin-Williams by 28.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,032,170 shares of the specialty chemicals company's stock valued at $690,796,000 after purchasing an additional 451,505 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the transaction, the insider now owns 5,365 shares of the company's stock, valued at $1,933,009.50. This represents a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SHW shares. UBS Group decreased their target price on Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Wells Fargo & Company lowered their price objective on shares of Sherwin-Williams from $380.00 to $350.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Mizuho set a $395.00 target price on shares of Sherwin-Williams in a research report on Tuesday, April 15th. Royal Bank of Canada lowered their price target on Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Robert W. Baird set a $370.00 price objective on Sherwin-Williams in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Sherwin-Williams has an average rating of "Moderate Buy" and an average price target of $391.25.

Sherwin-Williams Price Performance

Sherwin-Williams stock traded up $0.43 during mid-day trading on Wednesday, hitting $332.39. The stock had a trading volume of 689,254 shares, compared to its average volume of 1,780,886. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The firm's 50 day moving average is $343.54 and its 200 day moving average is $358.14. The firm has a market capitalization of $83.60 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.98 and a beta of 1.26. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same quarter in the previous year, the company earned $1.81 earnings per share. On average, sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.95%. Sherwin-Williams's dividend payout ratio is 29.95%.

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.