abrdn plc Buys 42,680 Shares of The Sherwin-Williams Company (NYSE:SHW)

abrdn plc lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 55.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,462 shares of the specialty chemicals company’s stock after purchasing an additional 42,680 shares during the period. abrdn plc’s holdings in Sherwin-Williams were worth $37,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Sherwin-Williams during the 3rd quarter worth approximately $25,000. Union Savings Bank bought a new stake in shares of Sherwin-Williams during the 3rd quarter worth approximately $28,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $35,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Sherwin-Williams during the 4th quarter worth approximately $36,000. Finally, Lee Financial Co acquired a new position in shares of Sherwin-Williams during the 3rd quarter worth approximately $32,000. Institutional investors own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHW shares. Royal Bank of Canada decreased their target price on Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Seaport Res Ptn lowered Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Wolfe Research started coverage on Sherwin-Williams in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Robert W. Baird reissued a “neutral” rating and set a $300.00 target price (up from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Finally, Barclays upped their price objective on Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.94.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $309.26 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $78.69 billion, a PE ratio of 33.43, a P/E/G ratio of 2.42 and a beta of 1.15. The Sherwin-Williams Company has a 12 month low of $221.76 and a 12 month high of $348.37. The stock has a 50-day moving average price of $328.50 and a two-hundred day moving average price of $298.39.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.80 by $0.01. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. Analysts expect that The Sherwin-Williams Company will post 11.46 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.92%. Sherwin-Williams’s payout ratio is 30.92%.

Insider Activity

In other news, SVP Gregory P. Sofish sold 1,830 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now directly owns 6,329 shares in the company, valued at $2,029,710.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the sale, the insider now owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,050 shares of company stock valued at $10,340,237. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Profile

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.