4,000,078 Shares in The Sherwin-Williams Company (NYSE:SHW) Purchased by Norges Bank

Norges Bank bought a new stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,000,078 shares of the specialty chemicals company's stock, valued at approximately $1,359,747,000. Norges Bank owned approximately 1.59% of Sherwin-Williams at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Sherwin-Williams by 1.0% during the third quarter. Principal Financial Group Inc. now owns 1,047,174 shares of the specialty chemicals company's stock valued at $399,675,000 after acquiring an additional 10,709 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Sherwin-Williams by 9.0% during the third quarter. Kingsview Wealth Management LLC now owns 960 shares of the specialty chemicals company's stock valued at $366,000 after acquiring an additional 79 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Sherwin-Williams by 176.6% in the third quarter. Larson Financial Group LLC now owns 1,065 shares of the specialty chemicals company's stock worth $406,000 after buying an additional 680 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sherwin-Williams during the 3rd quarter valued at $1,049,000. Finally, Associated Banc Corp purchased a new stake in Sherwin-Williams in the third quarter worth about $201,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently commented on SHW shares. Royal Bank of Canada lowered their price objective on Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Morgan Stanley dropped their price target on Sherwin-Williams from $450.00 to $405.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Citigroup reaffirmed a "buy" rating and set a $423.00 price objective (up from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $370.00 price target on shares of Sherwin-Williams in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $401.13.

Sherwin-Williams Trading Up 1.6 %

Shares of Sherwin-Williams stock traded up $5.53 on Monday, reaching $345.28. The company had a trading volume of 674,911 shares, compared to its average volume of 1,726,000. The firm's 50-day moving average price is $353.59 and its two-hundred day moving average price is $363.80. The Sherwin-Williams Company has a 1 year low of $282.09 and a 1 year high of $400.42. The firm has a market cap of $86.84 billion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 2.98 and a beta of 1.23. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 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 last year, the business earned $1.81 earnings per share. As a group, research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.92%. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.72. Sherwin-Williams's dividend payout ratio (DPR) is presently 29.95%.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 5,365 shares in the company, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company's stock.

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.