Renaissance Technologies LLC reduced its stake in Sherwin-Williams Co (NYSE:SHW) by 36.2% 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 428,300 shares of the specialty chemicals company’s stock after selling 242,700 shares during the period. Renaissance Technologies LLC owned approximately 0.46% of Sherwin-Williams worth $175,620,000 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 lifted its position in shares of Sherwin-Williams by 3.0% during 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 acquiring an additional 26,623 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Sherwin-Williams by 9.6% during 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 acquiring an additional 64,841 shares during the period. Institutional investors and hedge funds own 74.97% of the company’s stock.
Shares of Sherwin-Williams Co (SHW) traded down $4.75 during trading hours on Wednesday, reaching $409.02. 458,389 shares of the company were exchanged, compared to its average volume of 693,674. Sherwin-Williams Co has a 1 year low of $305.70 and a 1 year 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 has a market capitalization of $38,450.00, a PE ratio of 32.23, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Monday, February 26th were given a dividend of $0.86 per share. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.85. This represents a $3.44 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, February 23rd. Sherwin-Williams’s payout ratio is 27.11%.
Several research analysts recently issued reports on the company. Cleveland Research restated a “buy” rating on shares of Sherwin-Williams in a research report on Wednesday, March 7th. Susquehanna Bancshares reiterated a “positive” rating and issued a $483.00 price target (down from $511.00) on shares of Sherwin-Williams in a report on Tuesday, February 13th. Seaport Global Securities raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada boosted their price objective on shares of Sherwin-Williams to $485.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Finally, KeyCorp reaffirmed a “buy” rating and set a $500.00 price target (up from $465.00) on shares of Sherwin-Williams in a research report 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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