Bank of New York Mellon Corp Increases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Bank of New York Mellon Corp raised its position in The Sherwin-Williams Company (NYSE:SHW) by 12.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,724,746 shares of the specialty chemicals company’s stock after purchasing an additional 187,724 shares during the period. Bank of New York Mellon Corp’s holdings in Sherwin-Williams were worth $586,293,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SHW. Merit Financial Group LLC grew its position in shares of Sherwin-Williams by 80.0% during the 4th quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock valued at $400,000 after acquiring an additional 523 shares during the period. 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 worth $694,000 after purchasing an additional 209 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Sherwin-Williams by 52.6% in 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 period. Kerusso Capital Management LLC increased its position in shares of Sherwin-Williams by 75.9% in 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 buying an additional 4,439 shares in the last quarter. Finally, Burney Co. raised its stake in shares of Sherwin-Williams by 4.6% during the 4th quarter. Burney Co. now owns 17,272 shares of the specialty chemicals company’s stock worth $5,871,000 after buying an additional 766 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Up 2.7 %

NYSE SHW opened at $353.18 on Wednesday. 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 52 week low of $282.09 and a 52 week high of $400.42. The business’s fifty day simple moving average is $350.43 and its 200-day simple moving average is $365.62. The firm has a market cap of $88.78 billion, a PE ratio of 33.48, a P/E/G ratio of 2.98 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS 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 quarter in the prior year, the firm earned $1.81 EPS. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. This represents a $3.16 dividend on an annualized basis and a yield of 0.89%. Sherwin-Williams’s dividend payout ratio is currently 29.95%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Zelman & Associates upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Mizuho cut their price objective on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average price target of $400.59.

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.