Zions Bancorporation N.A. Buys 2,026 Shares of The Sherwin-Williams Company (NYSE:SHW)

Zions Bancorporation N.A. boosted its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,766 shares of the specialty chemicals company's stock after acquiring an additional 2,026 shares during the quarter. Zions Bancorporation N.A.'s holdings in Sherwin-Williams were worth $4,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Sherwin-Williams by 18.2% during the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company's stock valued at $2,474,238,000 after purchasing an additional 999,164 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Sherwin-Williams during the 4th quarter worth $230,829,000. Proficio Capital Partners LLC boosted its position in Sherwin-Williams by 41,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 479,472 shares of the specialty chemicals company's stock valued at $162,987,000 after buying an additional 478,320 shares during the last quarter. Canoe Financial LP raised its position in shares of Sherwin-Williams by 542.0% during the fourth quarter. Canoe Financial LP now owns 339,707 shares of the specialty chemicals company's stock worth $115,477,000 after acquiring an additional 286,791 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sherwin-Williams by 47.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 864,558 shares of the specialty chemicals company's stock worth $293,889,000 after acquiring an additional 278,242 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Remove Ads

Sherwin-Williams Stock Down 1.7 %

Shares of SHW traded down $5.88 on Friday, hitting $339.77. The company's stock had a trading volume of 1,304,583 shares, compared to its average volume of 1,730,061. The firm's fifty day moving average price is $353.59 and its 200-day moving average price is $363.86. The Sherwin-Williams Company has a fifty-two week low of $282.09 and a fifty-two week high of $400.42. 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 firm has a market capitalization of $85.46 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 2.98 and a beta of 1.23.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating 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 period in the previous year, the firm earned $1.81 earnings per share. On average, equities research analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

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

Insider Transactions at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of Sherwin-Williams 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on SHW shares. Citigroup reiterated a "buy" rating and issued a $423.00 price objective (up from $418.00) on shares of Sherwin-Williams in a research report on Wednesday, February 26th. Zelman & Associates upgraded shares of Sherwin-Williams to a "strong-buy" rating in a research report on Friday, January 17th. Jefferies Financial Group reissued a "hold" rating and set a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. JPMorgan Chase & Co. raised their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada dropped their target price on shares of Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $401.13.

Sherwin-Williams 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.