Fifth Third Bancorp Trims Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Fifth Third Bancorp cut its position in The Sherwin-Williams Company (NYSE:SHW) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,190 shares of the specialty chemicals company’s stock after selling 5,937 shares during the quarter. Fifth Third Bancorp owned about 0.13% of Sherwin-Williams worth $111,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Griffin Asset Management Inc. raised its position in Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after buying an additional 26 shares during the last quarter. Allworth Financial LP grew its stake in shares of Sherwin-Williams by 1.8% in the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after acquiring an additional 28 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Sherwin-Williams by 47.5% during the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 28 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Sherwin-Williams by 2.4% during the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank lifted its position in Sherwin-Williams by 1.9% during the third quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after purchasing an additional 28 shares during the period. 77.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of research analyst reports. Mizuho cut their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reduced their price objective on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Evercore ISI boosted their price target on Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $403.29.

Insider Activity

In related news, SVP Mary L. Garceau sold 15,770 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the transaction, the senior vice president now owns 29,205 shares in the company, valued at approximately $11,621,253.60. This represents a 35.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $360.06 on Friday. The firm’s fifty day moving average is $361.60 and its two-hundred day moving average is $361.13. The Sherwin-Williams Company has a 52-week low of $282.09 and a 52-week high of $400.42. The company has a market cap of $90.68 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.78 and a beta of 1.22. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the firm earned $3.20 EPS. The company’s revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

About Sherwin-Williams

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.