The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,058 shares of the specialty chemicals company’s stock after selling 368 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Sherwin-Williams were worth $2,201,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Sherwin-Williams in the third quarter valued at approximately $25,000. Union Savings Bank acquired a new position in Sherwin-Williams during the 3rd quarter worth $28,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Sherwin-Williams in the fourth quarter worth $35,000. Lee Financial Co acquired a new position in shares of Sherwin-Williams during the third quarter valued at $32,000. Finally, BluePath Capital Management LLC bought a new stake in shares of Sherwin-Williams during the third quarter valued at about $33,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $318.25 on Monday. 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 stock has a market capitalization of $80.98 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.52 and a beta of 1.15. The business has a 50-day moving average of $328.49 and a two-hundred day moving average of $296.04. The Sherwin-Williams Company has a fifty-two week low of $221.76 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The company’s revenue was up .4% on a year-over-year basis. On average, equities research analysts predict that The Sherwin-Williams Company will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.61. Sherwin-Williams’s dividend payout ratio (DPR) is 30.92%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wolfe Research initiated coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Mizuho decreased their price target on Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating for the company in a research note on Friday, January 26th. JPMorgan Chase & Co. increased their target price on shares of Sherwin-Williams from $285.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Finally, Citigroup raised their target price on Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $326.50.

About Sherwin-Williams

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.