Allspring Global Investments Holdings LLC sells 23,355 shares of Sherwin-Williams Company (NYSE:SHW)

Allspring Global Investments Holdings LLC lessened its position in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 381,543 shares of the specialty chemicals company’s stock after selling 23,355 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of Sherwin-Williams worth $113,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have recently made changes to their positions in SHW. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Sherwin-Williams by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock worth $77,510,000 after acquiring an additional 13,984 shares during the period. Waterloo Capital LP purchased a new stake in shares of Sherwin-Williams in the 4th quarter valued at about $360,000. Valeo Financial Advisors LLC raised its stake in Sherwin-Williams by 7.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after purchasing an additional 193 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Sherwin-Williams by 7.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,533 shares of the specialty chemicals company’s stock valued at $532,000 after buying an additional 103 shares during the last quarter. Finally, Brevan Howard Capital Management LP increased its stake in Sherwin-Williams by 259.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 6,998 shares of the specialty chemicals company’s stock valued at $2,183,000 after purchasing an additional 5,049 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s shares.

Sherwin-Williams trading up 0.5%

Shares of SHW stock opened at $360.69 on Tuesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81, and a quick ratio of 0.50. The company has a market cap of $91.45 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.79 and a beta of 1.16. Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $363.13. The firm has a fifty day moving average price of $327.67 and a 200 day moving average price of $321.73.

Sherwin-Williams (NYSE:SHW – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. In the same quarter last year, the company posted earnings per share of $3.29. Sherwin-Williams’ revenue for the quarter was up 0.5% year-over-year. As a group, equities analysts predict that The Sherwin-Williams Company will post 11.44 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.715 per share. This represents a dividend of $2.86 on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, August 16. Sherwin-Williams’ payout ratio is 30.49%.

Changes in Analyst Ratings

Several equities analysts recently weighed in on the company. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Morgan Stanley raised their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group dropped their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. KeyCorp raised their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI upped their price objective on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th . One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $358.16.

See the latest stock analysis on SHW

About Sherwin-Williams

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The Sherwin-Williams Company engages in the development, manufacture, distribution and sale of paints, coatings 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.

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