ExodusPoint Capital Management LP Decreases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

ExodusPoint Capital Management LP lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 75.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,524 shares of the specialty chemicals company’s stock after selling 108,021 shares during the period. ExodusPoint Capital Management LP’s holdings in Sherwin-Williams were worth $11,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position 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 worth $399,675,000 after acquiring an additional 10,709 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Sherwin-Williams by 8.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,266 shares of the specialty chemicals company’s stock valued at $865,000 after purchasing an additional 177 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Sherwin-Williams by 3.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 109,766 shares of the specialty chemicals company’s stock worth $41,894,000 after purchasing an additional 3,200 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of Sherwin-Williams in the 3rd quarter valued at approximately $297,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Sherwin-Williams by 7.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 95,999 shares of the specialty chemicals company’s stock valued at $34,507,000 after buying an additional 7,014 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SHW shares. Royal Bank of Canada cut their price target on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays reduced their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $380.00 target price (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Finally, Wells Fargo & Company lowered their price target on Sherwin-Williams from $400.00 to $380.00 and set an “equal weight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average price target of $398.94.

Insider Activity 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 owns 5,365 shares in the company, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $331.91 on Friday. The firm’s 50-day simple moving average is $352.24 and its 200 day simple moving average is $362.90. The stock has a market cap of $83.48 billion, a P/E ratio of 31.46, a P/E/G ratio of 2.98 and a beta of 1.23. 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 Sherwin-Williams Company has a fifty-two week low of $282.09 and a fifty-two week high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share 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 last year, the company posted $1.81 earnings per share. Equities analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio is 29.95%.

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.