M&T Bank Corp Sells 12,633 Shares of The Sherwin-Williams Company (NYSE:SHW)

M&T Bank Corp lessened its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 6.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,115 shares of the specialty chemicals company’s stock after selling 12,633 shares during the period. M&T Bank Corp owned 0.07% of Sherwin-Williams worth $59,751,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Sherwin-Williams during the fourth quarter worth $27,000. Perkins Coie Trust Co bought a new position in Sherwin-Williams during the first quarter worth $27,000. Lee Danner & Bass Inc. bought a new position in Sherwin-Williams during the fourth quarter worth $28,000. Synergy Investment Management LLC raised its stake in Sherwin-Williams by 583.3% during the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Sherwin-Williams in the first quarter valued at $30,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Down 2.2%

Sherwin-Williams stock opened at $346.21 on Tuesday. The Sherwin-Williams Company has a fifty-two week low of $296.40 and a fifty-two week high of $400.42. The stock has a market cap of $86.76 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 3.18 and a beta of 1.18. The firm’s 50-day simple moving average is $351.50 and its 200 day simple moving average is $347.94. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams’s payout ratio is 29.87%.

Analysts Set New Price Targets

Several research firms have weighed in on SHW. Citigroup downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and decreased their price target for the company from $405.00 to $385.00 in a research note on Friday, June 13th. Wells Fargo & Company raised shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Bank of America lifted their price target on shares of Sherwin-Williams from $289.00 to $296.00 and gave the company an “underperform” rating in a research note on Monday, June 23rd. 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, Morgan Stanley decreased their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $391.31.

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.