Bank of New York Mellon Corp Boosts Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Bank of New York Mellon Corp lifted its holdings in The Sherwin-Williams Company (NYSE:SHW) by 12.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,724,746 shares of the specialty chemicals company’s stock after purchasing an additional 187,724 shares during the period. Bank of New York Mellon Corp owned about 0.68% of Sherwin-Williams worth $586,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairhaven Wealth Management LLC bought a new stake in Sherwin-Williams during the 4th quarter valued at $1,544,000. Prasad Wealth Partners LLC purchased a new stake in shares of Sherwin-Williams during the 4th quarter worth $369,000. BankPlus Trust Department bought a new stake in Sherwin-Williams during the fourth quarter valued at about $120,000. Rothschild Investment LLC grew its stake in Sherwin-Williams by 18.1% in the fourth quarter. Rothschild Investment LLC now owns 2,521 shares of the specialty chemicals company’s stock valued at $857,000 after purchasing an additional 386 shares during the last quarter. Finally, Midwest Capital Advisors LLC bought a new position in Sherwin-Williams in the fourth quarter worth about $26,000. 77.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on SHW shares. JPMorgan Chase & Co. raised their price target on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho lowered their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. Morgan Stanley lowered their price objective on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Evercore ISI boosted their target price on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $400.59.

Sherwin-Williams Stock Performance

SHW opened at $353.18 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42. The firm has a 50 day moving average of $350.43 and a two-hundred day moving average of $365.62. The firm has a market capitalization of $88.78 billion, a PE ratio of 33.48, a P/E/G ratio of 2.98 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same quarter in the previous year, the firm earned $1.81 earnings per share. On average, analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.89%. Sherwin-Williams’s dividend payout ratio is presently 29.95%.

Sherwin-Williams Profile

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.