OLD National Bancorp IN Lowers Stock Position in The Sherwin-Williams Company (NYSE:SHW)

OLD National Bancorp IN lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,523 shares of the specialty chemicals company’s stock after selling 635 shares during the quarter. OLD National Bancorp IN’s holdings in Sherwin-Williams were worth $1,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Sherwin-Williams by 16.2% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,568 shares of the specialty chemicals company’s stock valued at $12,132,000 after buying an additional 6,639 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Sherwin-Williams during the fourth quarter valued at $38,444,000. Machina Capital S.A.S. lifted its position in Sherwin-Williams by 149.0% during the third quarter. Machina Capital S.A.S. now owns 9,695 shares of the specialty chemicals company’s stock valued at $2,473,000 after buying an additional 5,801 shares during the period. AIA Group Ltd raised its position in shares of Sherwin-Williams by 20.8% in the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock worth $5,088,000 after purchasing an additional 2,810 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Sherwin-Williams in the 3rd quarter worth about $4,517,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 2.2 %

Sherwin-Williams stock opened at $302.34 on Wednesday. The business has a 50-day simple moving average of $328.40 and a two-hundred day simple moving average of $298.73. The company has a market cap of $76.93 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.45 and a beta of 1.15. The Sherwin-Williams Company has a 52-week low of $221.76 and a 52-week high of $348.37. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Analysts predict that The Sherwin-Williams Company will post 11.46 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $0.715 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the transaction, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the transaction, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $322.66, for a total value of $7,588,317.88. Following the transaction, the senior vice president now owns 28,475 shares of the company’s stock, valued at $9,187,743.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SHW has been the subject of several recent analyst reports. Seaport Res Ptn lowered Sherwin-Williams from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $300.00 price target (up previously from $270.00) on shares of Sherwin-Williams in a research report on Wednesday, January 3rd. Barclays lifted their price target on Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Finally, Royal Bank of Canada lowered their price target on Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.94.

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.