Bank of Nova Scotia Trust Co. Decreases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Bank of Nova Scotia Trust Co. trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,892 shares of the specialty chemicals company’s stock after selling 283 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Sherwin-Williams were worth $1,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SHW. Legacy Capital Wealth Partners LLC increased its holdings in Sherwin-Williams by 2.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 1,028 shares of the specialty chemicals company’s stock worth $350,000 after buying an additional 29 shares in the last quarter. Apella Capital LLC grew its stake in shares of Sherwin-Williams by 2.1% in the fourth quarter. Apella Capital LLC now owns 1,465 shares of the specialty chemicals company’s stock worth $498,000 after acquiring an additional 30 shares during the period. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Sherwin-Williams by 0.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock valued at $1,272,000 after purchasing an additional 30 shares during the last quarter. IMS Capital Management lifted its position in Sherwin-Williams by 2.4% during the fourth quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company’s stock valued at $437,000 after purchasing an additional 30 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in Sherwin-Williams by 7.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 438 shares of the specialty chemicals company’s stock worth $149,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,799 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the transaction, the insider now owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. The trade was a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

SHW has been the subject of a number of research reports. Barclays decreased their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Robert W. Baird set a $370.00 target price on Sherwin-Williams in a research report on Friday, January 31st. Morgan Stanley reduced their price target on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group dropped their price objective on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus price target of $392.50.

Sherwin-Williams Stock Performance

NYSE SHW opened at $333.03 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42. The business has a 50 day simple moving average of $344.78 and a two-hundred day simple moving average of $358.89. The stock has a market capitalization of $83.76 billion, a PE ratio of 31.57, a P/E/G ratio of 2.98 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $1.81 EPS. On average, research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, May 16th. This represents a $3.16 annualized dividend and a yield of 0.95%. Sherwin-Williams’s payout ratio is currently 29.95%.

About Sherwin-Williams

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.