Pinnacle Holdings LLC Invests $2.67 Million in The Sherwin-Williams Company (NYSE:SHW)

Pinnacle Holdings LLC bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,840 shares of the specialty chemicals company's stock, valued at approximately $2,665,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at $1,359,747,000. Raymond James Financial Inc. acquired a new stake in Sherwin-Williams in the fourth quarter valued at $230,829,000. Proficio Capital Partners LLC grew its stake in Sherwin-Williams by 41,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 479,472 shares of the specialty chemicals company's stock worth $162,987,000 after purchasing an additional 478,320 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sherwin-Williams by 28.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,032,170 shares of the specialty chemicals company's stock valued at $690,796,000 after buying an additional 451,505 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Sherwin-Williams by 79.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 653,548 shares of the specialty chemicals company's stock worth $219,945,000 after buying an additional 289,450 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,799 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the transaction, the insider now directly owns 5,365 shares of the company's stock, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

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Sherwin-Williams Stock Up 0.5 %

NYSE SHW traded up $1.53 during trading on Monday, reaching $338.30. The company's stock had a trading volume of 368,655 shares, compared to its average volume of 1,778,479. 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 stock has a market capitalization of $85.09 billion, a PE ratio of 32.07, a PEG ratio of 2.98 and a beta of 1.26. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42. The business has a 50-day moving average price of $347.47 and a 200-day moving average price of $360.20.

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

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.79 dividend. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Monday, March 3rd. Sherwin-Williams's payout ratio is currently 29.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SHW. UBS Group reduced their price objective on Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Morgan Stanley cut their price objective on shares of Sherwin-Williams from $450.00 to $405.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on Sherwin-Williams from $380.00 to $350.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Mizuho lowered their price objective on shares of Sherwin-Williams from $435.00 to $408.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada dropped their price target on shares of Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating on the stock in a research 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $393.31.

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.