Resona Asset Management Co. Ltd. Buys New Shares in The Sherwin-Williams Company (NYSE:SHW)

Resona Asset Management Co. Ltd. purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 75,277 shares of the specialty chemicals company’s stock, valued at approximately $25,636,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at about $1,359,747,000. Raymond James Financial Inc. acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $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 valued at $162,987,000 after buying an additional 478,320 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Sherwin-Williams by 28.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,032,170 shares of the specialty chemicals company’s stock worth $690,796,000 after acquiring an additional 451,505 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Sherwin-Williams by 79.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 653,548 shares of the specialty chemicals company’s stock valued at $219,945,000 after acquiring an additional 289,450 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the firm’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 value of $1,008,479.70. Following the sale, the insider now 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Down 2.6 %

NYSE:SHW opened at $331.91 on Friday. 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 has a market capitalization of $83.48 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42. The stock has a 50-day simple moving average of $352.24 and a 200 day simple moving average of $362.80.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period last year, the business posted $1.81 earnings per share. Sell-side analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a dividend yield of 0.95%. Sherwin-Williams’s payout ratio is 29.95%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SHW shares. Mizuho lowered their price target on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Zelman & Associates upgraded Sherwin-Williams to a “strong-buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price target on Sherwin-Williams from $400.00 to $380.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Citigroup reissued a “buy” rating and set a $423.00 target price (up from $418.00) on shares of Sherwin-Williams in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus target price of $398.94.

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.