Bank of New York Mellon Corp Has $521.10 Million Stock Position in The Sherwin-Williams Company $SHW

Bank of New York Mellon Corp cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,504,924 shares of the specialty chemicals company’s stock after selling 21,228 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sherwin-Williams were worth $521,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MTM Investment Management LLC bought a new stake in shares of Sherwin-Williams in the 2nd quarter valued at $26,000. Valley National Advisers Inc. boosted its stake in Sherwin-Williams by 68.0% during the second quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 34 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in Sherwin-Williams by 104.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Salomon & Ludwin LLC bought a new stake in Sherwin-Williams in the second quarter valued at $31,000. Finally, Delos Wealth Advisors LLC bought a new stake in Sherwin-Williams in the second quarter valued at $36,000. 77.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHW. Deutsche Bank Aktiengesellschaft cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price objective on the stock. in a research report on Thursday, January 22nd. UBS Group reissued a “buy” rating and issued a $415.00 price objective (down previously from $422.00) on shares of Sherwin-Williams in a research note on Monday, January 12th. Citigroup restated a “buy” rating on shares of Sherwin-Williams in a report on Monday, January 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Finally, Mizuho reduced their price target on shares of Sherwin-Williams from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.94.

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams stock opened at $349.52 on Thursday. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $379.65. The company has a quick ratio of 0.52, a current ratio of 0.82 and a debt-to-equity ratio of 2.11. The business has a 50 day moving average price of $337.25 and a 200-day moving average price of $343.68. The company has a market cap of $86.64 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 5.01 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.15. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.21 billion. Sherwin-Williams had a return on equity of 66.75% and a net margin of 11.05%.Sherwin-Williams’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.37 earnings per share. Equities analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

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.