Man Group plc Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Man Group plc cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 12.7% during the fourth quarter, HoldingsChannel reports. The firm owned 34,977 shares of the specialty chemicals company’s stock after selling 5,100 shares during the quarter. Man Group plc’s holdings in Sherwin-Williams were worth $11,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC raised its holdings in shares of Sherwin-Williams by 2.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 1,028 shares of the specialty chemicals company’s stock worth $350,000 after buying an additional 29 shares during the period. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Sherwin-Williams by 0.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock worth $1,272,000 after buying an additional 30 shares during the period. IMS Capital Management raised its holdings in shares of Sherwin-Williams by 2.4% in the fourth quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company’s stock worth $437,000 after buying an additional 30 shares during the period. Coppell Advisory Solutions LLC raised its holdings in shares of Sherwin-Williams by 2.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company’s stock worth $388,000 after buying an additional 30 shares during the period. Finally, Simon Quick Advisors LLC raised its holdings in shares of Sherwin-Williams by 2.5% in the fourth quarter. Simon Quick Advisors LLC now owns 1,338 shares of the specialty chemicals company’s stock worth $455,000 after buying an additional 32 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHW. Wells Fargo & Company upgraded Sherwin-Williams from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $350.00 to $420.00 in a report on Wednesday, April 30th. UBS Group dropped their price objective on Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Royal Bank of Canada increased their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Mizuho set a $395.00 price objective on Sherwin-Williams in a research note on Tuesday, April 15th. Finally, Citigroup dropped their price objective on Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. 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’s stock. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average price target of $397.00.

Insider Buying and Selling

In related news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Stock Performance

Shares of SHW opened at $363.22 on Monday. The Sherwin-Williams Company has a 12 month low of $282.09 and a 12 month high of $400.42. The stock has a fifty day moving average price of $341.61 and a 200-day moving average price of $355.15. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The firm has a market cap of $91.02 billion, a PE ratio of 34.43, a P/E/G ratio of 2.98 and a beta of 1.25.

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

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $0.79 dividend. The ex-dividend date is Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a yield of 0.87%. Sherwin-Williams’s dividend payout ratio (DPR) is 29.87%.

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.