DNB Asset Management AS Lowers Stake in The Sherwin-Williams Company $SHW

DNB Asset Management AS trimmed its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 14.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,559 shares of the specialty chemicals company’s stock after selling 10,414 shares during the period. DNB Asset Management AS’s holdings in Sherwin-Williams were worth $21,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Modera Wealth Management LLC lifted its stake in Sherwin-Williams by 2.4% in the 3rd quarter. Modera Wealth Management LLC now owns 1,257 shares of the specialty chemicals company’s stock valued at $435,000 after buying an additional 29 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in shares of Sherwin-Williams by 1.6% during the second quarter. Richard W. Paul & Associates LLC now owns 1,885 shares of the specialty chemicals company’s stock valued at $647,000 after acquiring an additional 30 shares during the last quarter. 17 Capital Partners LLC lifted its position in shares of Sherwin-Williams by 0.9% in the second quarter. 17 Capital Partners LLC now owns 3,340 shares of the specialty chemicals company’s stock valued at $1,147,000 after acquiring an additional 31 shares in the last quarter. Alpine Bank Wealth Management boosted its stake in shares of Sherwin-Williams by 4.1% in the third quarter. Alpine Bank Wealth Management now owns 781 shares of the specialty chemicals company’s stock worth $270,000 after acquiring an additional 31 shares during the last quarter. Finally, Jessup Wealth Management Inc increased its position in shares of Sherwin-Williams by 1.4% during the second quarter. Jessup Wealth Management Inc now owns 2,341 shares of the specialty chemicals company’s stock worth $804,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Bryan J. Young sold 2,513 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. This trade represents a 20.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the transaction, the insider directly owned 5,365 shares in the company, valued at $1,928,717.50. The trade was a 35.68% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $362.08 on Friday. The company’s 50-day moving average is $350.29 and its two-hundred day moving average is $346.71. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $379.65. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The firm has a market capitalization of $89.71 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 3.12 and a beta of 1.25.

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

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, March 2nd will be paid a $0.80 dividend. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.20 annualized dividend and a dividend yield of 0.9%. Sherwin-Williams’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several brokerages have 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 target price on the stock. in a research note on Thursday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sherwin-Williams in a research note on Monday, December 29th. Vertical Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective for the company in a research note on Wednesday, January 7th. UBS Group set a $420.00 target price on shares of Sherwin-Williams in a research note on Friday, January 30th. Finally, Royal Bank Of Canada set a $390.00 price target on Sherwin-Williams and gave the company an “outperform” rating in a research report on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $387.67.

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.