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

Allspring Global Investments Holdings LLC decreased its position in The Sherwin-Williams Company (NYSE:SHW) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,785 shares of the specialty chemicals company’s stock after selling 27,758 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sherwin-Williams were worth $135,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Sherwin-Williams by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after purchasing an additional 184,979 shares in the last quarter. Capital International Investors increased its holdings in Sherwin-Williams by 10.5% during the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock worth $799,595,000 after purchasing an additional 219,149 shares during the last quarter. Legal & General Group Plc boosted its stake in Sherwin-Williams by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after acquiring an additional 53,487 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in Sherwin-Williams by 132.8% in the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after buying an additional 917,979 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Sherwin-Williams by 18.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after acquiring an additional 238,031 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SHW. Jefferies Financial Group lifted their target price on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. The Goldman Sachs Group lifted their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $383.35.

Sherwin-Williams Price Performance

SHW stock traded down $0.72 during trading on Friday, hitting $388.36. The company had a trading volume of 1,280,307 shares, compared to its average volume of 1,529,468. The company has a market cap of $98.47 billion, a P/E ratio of 41.40, a P/E/G ratio of 3.01 and a beta of 1.17. The company has a fifty day moving average price of $370.58 and a two-hundred day moving average price of $333.88. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two 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) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the firm posted $3.29 EPS. The business’s revenue was up .5% on a year-over-year basis. Equities research analysts expect that The Sherwin-Williams Company will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. Sherwin-Williams’s payout ratio is presently 30.49%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.