Huntington National Bank Buys 12,486 Shares of The Sherwin-Williams Company (NYSE:SHW)

Huntington National Bank increased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,830 shares of the specialty chemicals company’s stock after buying an additional 12,486 shares during the period. Huntington National Bank owned 0.07% of Sherwin-Williams worth $56,031,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SHW. Legacy Capital Wealth Partners LLC lifted its position in Sherwin-Williams by 2.9% in the 4th 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 last quarter. Apella Capital LLC increased its stake in shares of Sherwin-Williams by 2.1% during the fourth quarter. Apella Capital LLC now owns 1,465 shares of the specialty chemicals company’s stock valued at $498,000 after buying an additional 30 shares during the period. Atlantic Edge Private Wealth Management LLC raised its holdings in Sherwin-Williams by 0.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock worth $1,272,000 after purchasing an additional 30 shares in the last quarter. IMS Capital Management boosted its position in Sherwin-Williams by 2.4% during the 4th quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company’s stock valued at $437,000 after acquiring an additional 30 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in Sherwin-Williams by 7.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 438 shares of the specialty chemicals company’s stock worth $149,000 after purchasing an additional 31 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Performance

Shares of SHW opened at $350.77 on Wednesday. The Sherwin-Williams Company has a 52-week low of $282.09 and a 52-week high of $400.42. The firm has a market capitalization of $88.22 billion, a PE ratio of 33.25, a P/E/G ratio of 2.98 and a beta of 1.23. The firm has a 50-day moving average price of $353.29 and a 200 day moving average price of $363.46. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same quarter last year, the company earned $1.81 EPS. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.79 dividend. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, March 3rd. Sherwin-Williams’s dividend payout ratio (DPR) is 29.95%.

Insider Activity

In other news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on SHW shares. Citigroup reiterated a “buy” rating and issued a $423.00 price objective (up from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. Barclays cut their price objective on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a research report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Morgan Stanley cut their price target on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada decreased their price objective on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. One 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’s stock. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus price target of $400.19.

Sherwin-Williams Company 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.