DAVENPORT & Co LLC Cuts Stake in The Sherwin-Williams Company $SHW

DAVENPORT & Co LLC lessened its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 491,114 shares of the specialty chemicals company’s stock after selling 15,984 shares during the quarter. Sherwin-Williams accounts for 0.8% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 28th biggest position. DAVENPORT & Co LLC owned 0.20% of Sherwin-Williams worth $159,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Sherwin-Williams by 104.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 44 shares during the period. Rossby Financial LCC boosted its holdings in Sherwin-Williams by 96.0% in the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 48 shares during the period. Delos Wealth Advisors LLC acquired a new stake in Sherwin-Williams in the second quarter valued at approximately $36,000. True Wealth Design LLC raised its stake in shares of Sherwin-Williams by 129.8% during the third quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 61 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Sherwin-Williams during the third quarter worth $42,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

SHW opened at $313.52 on Wednesday. The company has a market capitalization of $77.55 billion, a P/E ratio of 30.53, a PEG ratio of 2.72 and a beta of 1.25. The company has a 50-day moving average of $347.81 and a 200-day moving average of $341.66. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.53 and a current ratio of 0.87. The Sherwin-Williams Company has a 1-year low of $301.58 and a 1-year high of $379.65.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.07. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. Equities analysts expect that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a $0.80 dividend. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date was Monday, March 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 31.16%.

Insider Activity at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the sale, the insider directly owned 5,365 shares of the company’s stock, valued at approximately $1,928,717.50. This represents a 35.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bryan J. Young sold 2,513 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the transaction, the senior vice president owned 10,045 shares in the company, valued at $3,661,101.15. This trade represents a 20.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SHW shares. Mizuho decreased their target price on shares of Sherwin-Williams from $410.00 to $371.00 and set an “outperform” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price objective for the company. in a research report on Thursday, January 22nd. Citigroup restated a “buy” rating on shares of Sherwin-Williams in a research note on Monday, January 19th. Royal Bank Of Canada cut their price target on Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, UBS Group set a $420.00 price target on Sherwin-Williams in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $384.43.

About Sherwin-Williams

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.