DNB Asset Management AS Trims Position in The Sherwin-Williams Company (NYSE:SHW)

Posted by Defense World Staff on Mar 21st, 2023

DNB Asset Management AS cut its holdings in shares of The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 22.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,815 shares of the specialty chemicals company’s stock after selling 15,188 shares during the period. DNB Asset Management AS’s holdings in Sherwin-Williams were worth $12,297,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Mutual Advisors LLC increased its stake in shares of Sherwin-Williams by 2.8% during the second quarter. Mutual Advisors LLC now owns 1,605 shares of the specialty chemicals company’s stock valued at $359,000 after buying an additional 44 shares during the period. Apella Capital LLC increased its stake in shares of Sherwin-Williams by 3.3% during the fourth quarter. Apella Capital LLC now owns 1,394 shares of the specialty chemicals company’s stock valued at $331,000 after buying an additional 44 shares during the period. Optas LLC increased its stake in shares of Sherwin-Williams by 2.0% during the third quarter. Optas LLC now owns 2,261 shares of the specialty chemicals company’s stock valued at $461,000 after buying an additional 45 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in Sherwin-Williams by 3.9% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,190 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 45 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in Sherwin-Williams by 1.3% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 3,676 shares of the specialty chemicals company’s stock worth $753,000 after purchasing an additional 46 shares during the period. 76.03% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Up 1.0 %

Shares of NYSE:SHW opened at $219.55 on Tuesday. The company has a market cap of $56.65 billion, a P/E ratio of 28.44, a PEG ratio of 2.42 and a beta of 1.07. 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 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 $230.88 and its 200-day moving average price is $230.28.

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 1.10%. Sherwin-Williams’s dividend payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SHW. Royal Bank of Canada reduced their price target on Sherwin-Williams from $285.00 to $267.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 31st. UBS Group upped their price target on Sherwin-Williams from $242.00 to $255.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 11th. Wells Fargo & Company reduced their price target on Sherwin-Williams from $230.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Monday, January 9th. Barclays reduced their price target on Sherwin-Williams from $245.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Monday, January 30th. Finally, JPMorgan Chase & Co. cut their target price 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $253.39.

Insider Buying and Selling at Sherwin-Williams

In other news, CEO John G. Morikis bought 2,207 shares of the stock in a transaction on Friday, January 27th. The shares were bought at an average price of $226.70 per share, with a total value of $500,326.90. Following the completion of the acquisition, the chief executive officer now owns 231,344 shares in the company, valued at $52,445,684.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sherwin-Williams news, 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 in the company, valued at $1,756,145.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John G. Morikis purchased 2,207 shares of Sherwin-Williams stock in a transaction on Friday, January 27th. The stock was bought at an average price of $226.70 per share, with a total value of $500,326.90. Following the transaction, the chief executive officer now owns 231,344 shares of the company’s stock, valued at $52,445,684.80. The disclosure for this purchase can be found here. 0.55% 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.