Allstate Corp Purchases Shares of 7,156 The Sherwin-Williams Company (NYSE:SHW)

Allstate Corp acquired a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,156 shares of the specialty chemicals company's stock, valued at approximately $2,433,000.

Several other hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams during the fourth quarter worth $28,000. FSA Wealth Management LLC acquired a new stake in shares of Sherwin-Williams in the 3rd quarter valued at $32,000. Sierra Ocean LLC bought a new position in shares of Sherwin-Williams in the 4th quarter valued at $36,000. Finally, True Wealth Design LLC raised its holdings in shares of Sherwin-Williams by 1,000.0% during the 3rd quarter. True Wealth Design LLC now owns 99 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 90 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Trading Up 0.5 %

Shares of Sherwin-Williams stock traded up $1.58 on Tuesday, reaching $350.77. 1,257,973 shares of the company's stock were exchanged, compared to its average volume of 1,729,117. The firm's 50-day moving average is $353.50 and its two-hundred day moving average is $363.63. The company has a market capitalization of $88.22 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The Sherwin-Williams Company has a 52 week low of $282.09 and a 52 week high of $400.42.

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Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, topping 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 period in the previous year, the business earned $1.81 earnings per share. Sell-side analysts predict 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 14th. Shareholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.90%. This is a positive change from Sherwin-Williams's previous quarterly dividend of $0.72. Sherwin-Williams's dividend payout ratio is presently 29.95%.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the transaction, the insider now directly owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Berenberg Bank raised Sherwin-Williams from a "hold" rating to a "buy" rating and raised their price objective for the company from $321.00 to $420.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley lowered their price target on shares of Sherwin-Williams from $450.00 to $405.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Citigroup reissued a "buy" rating and set a $423.00 price objective (up previously from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their target price on Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.19.

Sherwin-Williams Company 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.