Fifth Third Bancorp Increases Stake in The Sherwin-Williams Company (NYSE:SHW)

Fifth Third Bancorp boosted its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 5.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 346,656 shares of the specialty chemicals company’s stock after buying an additional 18,466 shares during the quarter. Fifth Third Bancorp owned 0.14% of Sherwin-Williams worth $121,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Simon Quick Advisors LLC raised its position in Sherwin-Williams by 35.9% during the 1st quarter. Simon Quick Advisors LLC now owns 1,819 shares of the specialty chemicals company’s stock worth $635,000 after buying an additional 481 shares during the last quarter. Zhang Financial LLC grew its stake in shares of Sherwin-Williams by 2.2% during the 1st quarter. Zhang Financial LLC now owns 1,696 shares of the specialty chemicals company’s stock worth $592,000 after purchasing an additional 36 shares during the period. McKinley Carter Wealth Services Inc. grew its stake in shares of Sherwin-Williams by 76.1% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 1,127 shares of the specialty chemicals company’s stock worth $394,000 after purchasing an additional 487 shares during the period. Focus Financial Network Inc. grew its stake in shares of Sherwin-Williams by 5.1% during the 1st quarter. Focus Financial Network Inc. now owns 3,553 shares of the specialty chemicals company’s stock worth $1,241,000 after purchasing an additional 174 shares during the period. Finally, MV Capital Management Inc. grew its stake in shares of Sherwin-Williams by 18.4% during the 1st quarter. MV Capital Management Inc. now owns 1,635 shares of the specialty chemicals company’s stock worth $571,000 after purchasing an additional 254 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Down 1.0%

Shares of SHW opened at $357.14 on Thursday. The stock has a market capitalization of $89.50 billion, a PE ratio of 33.85, a P/E/G ratio of 2.98 and a beta of 1.21. The Sherwin-Williams Company has a 1 year low of $292.27 and a 1 year high of $400.42. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The company’s 50-day simple moving average is $347.05 and its 200-day simple moving average is $352.64.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.88%. Sherwin-Williams’s payout ratio is 29.87%.

Analyst Upgrades and Downgrades

SHW has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Citigroup dropped their price target on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Mizuho set a $395.00 price target on shares of Sherwin-Williams in a research note on Tuesday, April 15th. Royal Bank of Canada lifted their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, UBS Group dropped their price target on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.00.

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.