Allspring Global Investments Holdings LLC Lowers Holdings in The Sherwin-Williams Company (NYSE:SHW)

Allspring Global Investments Holdings LLC decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,785 shares of the specialty chemicals company's stock after selling 27,758 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Sherwin-Williams worth $135,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vest Financial LLC increased its position in Sherwin-Williams by 0.6% in the third quarter. Vest Financial LLC now owns 146,964 shares of the specialty chemicals company's stock worth $56,092,000 after buying an additional 813 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Sherwin-Williams by 12.1% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 10,354 shares of the specialty chemicals company's stock valued at $3,952,000 after acquiring an additional 1,116 shares during the period. Waypoint Capital Advisors LLC purchased a new stake in Sherwin-Williams in the 3rd quarter worth approximately $258,000. New Perspectives Inc bought a new stake in Sherwin-Williams during the 3rd quarter worth approximately $1,374,000. Finally, AA Financial Advisors LLC bought a new position in shares of Sherwin-Williams in the third quarter worth approximately $264,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Down 0.2 %

Shares of NYSE SHW traded down $0.72 during trading hours on Friday, reaching $388.36. The stock had a trading volume of 1,280,307 shares, compared to its average volume of 1,529,468. The business's fifty day moving average price is $370.58 and its two-hundred day moving average price is $333.87. The firm has a market cap of $98.47 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 3.01 and a beta of 1.17. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $392.57. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 earnings per share. Analysts expect that The Sherwin-Williams Company will post 11.5 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams's dividend payout ratio (DPR) is currently 30.49%.

Insider Buying and Selling at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares of the company's stock, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on SHW shares. StockNews.com downgraded shares of Sherwin-Williams from a "buy" rating to a "hold" rating in a report on Saturday, September 28th. Evercore ISI upped their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, August 30th. The Goldman Sachs Group boosted their price target on Sherwin-Williams from $344.00 to $390.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. UBS Group reiterated an "underperform" rating on shares of Sherwin-Williams in a research report on Friday. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Sherwin-Williams in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $383.35.

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.