Truist Financial Corp Sells 2,704 Shares of The Sherwin-Williams Company (NYSE:SHW)

Truist Financial Corp cut its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,795 shares of the specialty chemicals company’s stock after selling 2,704 shares during the quarter. Truist Financial Corp’s holdings in Sherwin-Williams were worth $16,587,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SHW. Merit Financial Group LLC boosted its position in Sherwin-Williams by 80.0% during the fourth quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock valued at $400,000 after purchasing an additional 523 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock valued at $694,000 after purchasing an additional 209 shares during the last quarter. Park Avenue Securities LLC boosted its position in Sherwin-Williams by 52.6% during the fourth quarter. Park Avenue Securities LLC now owns 6,680 shares of the specialty chemicals company’s stock valued at $2,271,000 after purchasing an additional 2,303 shares during the last quarter. Kerusso Capital Management LLC boosted its position in Sherwin-Williams by 75.9% during the fourth quarter. Kerusso Capital Management LLC now owns 10,290 shares of the specialty chemicals company’s stock valued at $3,498,000 after purchasing an additional 4,439 shares during the last quarter. Finally, Burney Co. boosted its position in Sherwin-Williams by 4.6% during the fourth quarter. Burney Co. now owns 17,272 shares of the specialty chemicals company’s stock valued at $5,871,000 after purchasing an additional 766 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $351.39 on Thursday. The stock has a market capitalization of $88.50 billion, a PE ratio of 33.31, a P/E/G ratio of 3.08 and a beta of 1.22. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The business has a fifty day moving average price of $351.78 and a two-hundred day moving average price of $365.30. 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 announced its quarterly earnings data 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 return on equity of 74.50% and a net margin of 11.61%. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s payout ratio is 27.11%.

Insider Transactions at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the transaction, the senior vice president now owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Mizuho reduced their price target on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. Berenberg Bank raised Sherwin-Williams from a “hold” rating to a “buy” rating and raised their price objective for the company from $321.00 to $420.00 in a research report on Friday, January 24th. Finally, Robert W. Baird raised their price objective on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $400.00.

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.