Nippon Life Global Investors Americas Inc. reduced its stake in Sherwin-Williams Co (NYSE:SHW) by 35.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,620 shares of the specialty chemicals company’s stock after selling 1,970 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Sherwin-Williams were worth $1,484,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Sherwin-Williams by 0.7% during the fourth quarter. BlackRock Inc. now owns 5,585,972 shares of the specialty chemicals company’s stock worth $2,290,471,000 after buying an additional 41,384 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Sherwin-Williams by 27.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,332,394 shares of the specialty chemicals company’s stock valued at $477,049,000 after purchasing an additional 288,492 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Sherwin-Williams by 30.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,057,305 shares of the specialty chemicals company’s stock valued at $378,558,000 after purchasing an additional 247,553 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sherwin-Williams by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 914,472 shares of the specialty chemicals company’s stock valued at $374,223,000 after purchasing an additional 26,623 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Sherwin-Williams by 9.6% in the 3rd quarter. Wells Fargo & Company MN now owns 738,780 shares of the specialty chemicals company’s stock valued at $264,514,000 after purchasing an additional 64,841 shares in the last quarter. Institutional investors and hedge funds own 74.97% of the company’s stock.
Sherwin-Williams Co (SHW) traded down $4.75 during trading on Wednesday, hitting $409.02. 458,389 shares of the stock traded hands, compared to its average volume of 693,674. The company has a market capitalization of $38,450.00, a PE ratio of 32.23, a PEG ratio of 1.87 and a beta of 1.17. Sherwin-Williams Co has a twelve month low of $305.70 and a twelve month high of $435.15. The company has a quick ratio of 0.67, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Monday, February 26th were paid a $0.86 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.85. This represents a $3.44 dividend on an annualized basis and a yield of 0.84%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 27.11%.
A number of research firms have recently issued reports on SHW. Cleveland Research reiterated a “buy” rating on shares of Sherwin-Williams in a research report on Wednesday, March 7th. Susquehanna Bancshares restated a “positive” rating and set a $483.00 price objective (down from $511.00) on shares of Sherwin-Williams in a research report on Tuesday, February 13th. Seaport Global Securities upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada boosted their price target on Sherwin-Williams to $485.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, KeyCorp reissued a “buy” rating and set a $500.00 price objective (up from $465.00) on shares of Sherwin-Williams in a research note on Monday, January 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Sherwin-Williams presently has a consensus rating of “Buy” and a consensus target price of $436.20.
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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