Moody National Bank Trust Division Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Posted by Defense World Staff on Mar 20th, 2023

Moody National Bank Trust Division reduced its stake in The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,602 shares of the specialty chemicals company’s stock after selling 753 shares during the period. Moody National Bank Trust Division’s holdings in Sherwin-Williams were worth $618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Sherwin-Williams by 115.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,250,997 shares of the specialty chemicals company’s stock valued at $2,295,301,000 after buying an additional 5,499,972 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Sherwin-Williams by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,898,426 shares of the specialty chemicals company’s stock valued at $1,992,447,000 after buying an additional 246,451 shares during the period. Legal & General Group Plc grew its stake in Sherwin-Williams by 0.8% in the second quarter. Legal & General Group Plc now owns 1,891,102 shares of the specialty chemicals company’s stock worth $423,439,000 after purchasing an additional 15,631 shares during the period. Farallon Capital Management LLC grew its stake in Sherwin-Williams by 20.4% in the third quarter. Farallon Capital Management LLC now owns 1,279,492 shares of the specialty chemicals company’s stock worth $261,976,000 after purchasing an additional 216,900 shares during the period. Finally, Chilton Investment Co. Inc. grew its stake in Sherwin-Williams by 1.1% in the second quarter. Chilton Investment Co. Inc. now owns 1,260,134 shares of the specialty chemicals company’s stock worth $282,157,000 after purchasing an additional 13,764 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Down 1.4 %

Shares of NYSE:SHW opened at $217.32 on Monday. The Sherwin-Williams Company has a 1 year low of $195.24 and a 1 year high of $285.00. The stock’s fifty day moving average price is $231.21 and its 200-day moving average price is $230.37. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.99 and a quick ratio of 0.55. The company has a market cap of $56.08 billion, a P/E ratio of 28.15, a PEG ratio of 2.42 and a beta of 1.07.

Sherwin-Williams (NYSE:SHW – Get Rating) last posted its earnings results on Thursday, January 26th. The specialty chemicals company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. Sherwin-Williams had a return on equity of 90.04% and a net margin of 9.12%. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. Sherwin-Williams’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that The Sherwin-Williams Company will post 8.71 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Monday, February 27th were issued a $0.605 dividend. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, February 24th. This represents a $2.42 dividend on an annualized basis and a yield of 1.11%. Sherwin-Williams’s dividend payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

SHW has been the topic of several recent research reports. Morgan Stanley reduced their price target on Sherwin-Williams from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, January 27th. BMO Capital Markets reduced their price target on Sherwin-Williams from $283.00 to $231.00 and set a “market perform” rating on the stock in a research note on Friday, January 27th. JPMorgan Chase & Co. reduced their price target on Sherwin-Williams from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, January 27th. Barclays dropped their target price on Sherwin-Williams from $245.00 to $220.00 and set an “equal weight” rating on the stock in a report on Monday, January 30th. Finally, StockNews.com initiated coverage on Sherwin-Williams in a report on Thursday. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.39.

Insider Buying and Selling at Sherwin-Williams

In related news, CEO John G. Morikis purchased 2,207 shares of Sherwin-Williams stock in a transaction on Friday, January 27th. The stock was acquired at an average price of $226.70 per share, for a total transaction of $500,326.90. Following the completion of the transaction, the chief executive officer now directly owns 231,344 shares in the company, valued at approximately $52,445,684.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO John G. Morikis purchased 2,207 shares of Sherwin-Williams stock in a transaction on Friday, January 27th. The stock was acquired at an average price of $226.70 per share, for a total transaction of $500,326.90. Following the completion of the transaction, the chief executive officer now directly owns 231,344 shares in the company, valued at approximately $52,445,684.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Bryan J. Young sold 2,750 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $220.76, for a total value of $607,090.00. Following the completion of the sale, the senior vice president now owns 7,955 shares of the company’s stock, valued at approximately $1,756,145.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

About Sherwin-Williams

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The Sherwin-Williams Co engages in the development, manufacture, distribution, and sale of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor coverings.