Newbridge Financial Services Group Inc. Grows Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Posted by Defense World Staff on Mar 25th, 2023

Newbridge Financial Services Group Inc. raised its stake in The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 341.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349 shares of the specialty chemicals company’s stock after buying an additional 270 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Sherwin-Williams were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Sherwin-Williams by 115.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,250,997 shares of the specialty chemicals company’s stock worth $2,295,301,000 after purchasing an additional 5,499,972 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Sherwin-Williams by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,898,426 shares of the specialty chemicals company’s stock worth $1,992,447,000 after purchasing an additional 246,451 shares during the period. Legal & General Group Plc lifted its position in shares of Sherwin-Williams by 0.8% in the 2nd 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 lifted its position in shares of Sherwin-Williams by 20.4% in the 3rd 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. lifted its position in shares of Sherwin-Williams by 1.1% in the 2nd 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.

Insider Transactions at Sherwin-Williams

In other news, SVP Bryan J. Young sold 2,750 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $220.76, for a total value of $607,090.00. Following the sale, the senior vice president now owns 7,955 shares in the company, valued at $1,756,145.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO John G. Morikis purchased 2,207 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $52,445,684.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan J. Young sold 2,750 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $220.76, for a total transaction of $607,090.00. Following the sale, the senior vice president now directly owns 7,955 shares in the company, valued at $1,756,145.80. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

SHW has been the subject of several research reports. Royal Bank of Canada lowered their price target on shares of Sherwin-Williams from $285.00 to $267.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. Zelman & Associates lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Friday, January 27th. Citigroup reduced their price objective on shares of Sherwin-Williams from $270.00 to $251.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. JPMorgan Chase & Co. reduced their price objective on shares of Sherwin-Williams from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Friday, January 27th. Finally, StockNews.com began coverage on shares of Sherwin-Williams in a research note on Thursday, March 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus price target of $253.39.

Sherwin-Williams Trading Up 1.1 %

Shares of Sherwin-Williams stock opened at $211.28 on Friday. The firm has a market capitalization of $54.52 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.36 and a beta of 1.07. The Sherwin-Williams Company has a 12-month low of $195.24 and a 12-month high of $285.00. The firm’s 50 day simple moving average is $228.58 and its two-hundred day simple moving average is $229.78. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 3.09.

Sherwin-Williams (NYSE:SHW – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The specialty chemicals company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.26 billion. Sherwin-Williams had a net margin of 9.12% and a return on equity of 90.04%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. Analysts predict that The Sherwin-Williams Company will post 8.71 EPS for the current year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Monday, February 27th were paid a $0.605 dividend. The ex-dividend date was Friday, February 24th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.60. Sherwin-Williams’s dividend payout ratio is presently 31.35%.

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.

Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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