Heritage Trust Co Acquires New Stake in The Sherwin-Williams Company (NYSE:SHW)

Heritage Trust Co purchased a new stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,029 shares of the specialty chemicals company's stock, valued at approximately $3,749,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tandem Wealth Advisors LLC increased its holdings in Sherwin-Williams by 5.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 888 shares of the specialty chemicals company's stock worth $302,000 after purchasing an additional 47 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Sherwin-Williams by 0.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 103,434 shares of the specialty chemicals company's stock worth $35,160,000 after buying an additional 910 shares during the last quarter. Scotia Capital Inc. grew its position in Sherwin-Williams by 11.8% during the fourth quarter. Scotia Capital Inc. now owns 44,022 shares of the specialty chemicals company's stock valued at $14,966,000 after buying an additional 4,629 shares during the period. Phoenix Financial Ltd. raised its position in Sherwin-Williams by 556.8% in the fourth quarter. Phoenix Financial Ltd. now owns 4,151 shares of the specialty chemicals company's stock worth $1,411,000 after acquiring an additional 3,519 shares during the period. Finally, CenterBook Partners LP grew its position in shares of Sherwin-Williams by 55.4% during the 4th quarter. CenterBook Partners LP now owns 15,015 shares of the specialty chemicals company's stock valued at $5,104,000 after acquiring an additional 5,352 shares during the period. 77.67% of the stock is owned by institutional investors.

Remove Ads

Sherwin-Williams Price Performance

NYSE SHW traded down $3.54 on Wednesday, reaching $333.34. The company had a trading volume of 489,116 shares, compared to its average volume of 1,776,441. The stock has a market capitalization of $83.84 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.98 and a beta of 1.26. The firm's 50 day moving average price is $346.45 and its 200 day moving average price is $359.75. The company has a quick ratio of 0.46, a current ratio of 0.79 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.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned $1.81 earnings per share. As a group, equities analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.95%. Sherwin-Williams's dividend payout ratio is currently 29.95%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Sherwin-Williams from $450.00 to $405.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Sherwin-Williams from $370.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Robert W. Baird set a $370.00 price target on Sherwin-Williams in a research report on Friday, January 31st. Zelman & Associates upgraded shares of Sherwin-Williams to a "strong-buy" rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada cut their price objective on Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $392.50.

Insider Activity

In other news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares of the company's stock, valued at $1,933,009.50. This represents a 34.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

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.