Allspring Global Investments Holdings LLC Increases Stake in The Sherwin-Williams Company $SHW

Allspring Global Investments Holdings LLC increased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,169 shares of the specialty chemicals company’s stock after acquiring an additional 24,139 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Sherwin-Williams worth $70,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC lifted its position in shares of Sherwin-Williams by 96.0% in the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 48 shares during the period. Delos Wealth Advisors LLC purchased a new position in Sherwin-Williams during the second quarter valued at approximately $36,000. True Wealth Design LLC increased its holdings in Sherwin-Williams by 129.8% during the third quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 61 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in Sherwin-Williams in the third quarter worth approximately $42,000. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in Sherwin-Williams by 42.4% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 131 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 39 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SHW. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price on the stock in a research report on Wednesday, January 7th. UBS Group set a $420.00 price objective on Sherwin-Williams in a research note on Friday, January 30th. Citigroup reaffirmed a “buy” rating on shares of Sherwin-Williams in a research report on Monday, January 19th. Mizuho cut their target price on Sherwin-Williams from $410.00 to $371.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $386.69.

Insider Transactions at Sherwin-Williams

In other news, SVP Bryan J. Young sold 2,513 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the transaction, the senior vice president owned 10,045 shares in the company, valued at $3,661,101.15. This represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the transaction, the insider directly owned 5,365 shares of the company’s stock, valued at $1,928,717.50. The trade was a 35.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by insiders.

Sherwin-Williams Price Performance

NYSE SHW opened at $320.38 on Wednesday. The firm’s fifty day simple moving average is $344.21 and its two-hundred day simple moving average is $340.04. The firm has a market capitalization of $79.25 billion, a P/E ratio of 31.20, a P/E/G ratio of 2.74 and a beta of 1.25. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 2.03. The Sherwin-Williams Company has a 12-month low of $301.58 and a 12-month high of $379.65.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.07. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm earned $2.09 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.80 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.79. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. Sherwin-Williams’s payout ratio is presently 31.16%.

About Sherwin-Williams

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.