Norges Bank Buys New Holdings in The Sherwin-Williams Company (NYSE:SHW)

Norges Bank acquired a new stake in The Sherwin-Williams Company (NYSE:SHW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,000,078 shares of the specialty chemicals company’s stock, valued at approximately $1,359,747,000. Norges Bank owned about 1.59% of Sherwin-Williams at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Sherwin-Williams during the 4th quarter valued at about $230,829,000. Proficio Capital Partners LLC lifted its position in Sherwin-Williams by 41,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 479,472 shares of the specialty chemicals company’s stock worth $162,987,000 after buying an additional 478,320 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Sherwin-Williams by 28.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,032,170 shares of the specialty chemicals company’s stock valued at $690,796,000 after acquiring an additional 451,505 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Sherwin-Williams by 79.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 653,548 shares of the specialty chemicals company’s stock worth $219,945,000 after purchasing an additional 289,450 shares during the last quarter. Finally, Canoe Financial LP raised its stake in Sherwin-Williams by 542.0% during the fourth quarter. Canoe Financial LP now owns 339,707 shares of the specialty chemicals company’s stock worth $115,477,000 after purchasing an additional 286,791 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Up 1.0 %

Shares of NYSE:SHW opened at $344.49 on Thursday. The company has a market capitalization of $86.64 billion, a P/E ratio of 32.65, a P/E/G ratio of 2.98 and a beta of 1.23. The stock’s fifty day simple moving average is $354.05 and its 200-day simple moving average is $364.21. The Sherwin-Williams Company has a 52-week low of $282.09 and a 52-week high of $400.42. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last issued its quarterly 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 earnings per share. As a group, equities research analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.92%. Sherwin-Williams’s dividend payout ratio (DPR) is 29.95%.

Insider Activity

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SHW shares. Morgan Stanley reduced their price target on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. 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 report on Tuesday, January 7th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Jefferies Financial Group reissued a “hold” rating and issued a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Finally, Royal Bank of Canada cut their price target on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $401.13.

Sherwin-Williams Company 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.