Pinnacle Financial Partners Inc Grows Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Pinnacle Financial Partners Inc increased its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,598 shares of the specialty chemicals company’s stock after buying an additional 1,299 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Sherwin-Williams were worth $20,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Sherwin-Williams by 18.2% during the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock worth $2,474,238,000 after buying an additional 999,164 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sherwin-Williams by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,733,131 shares of the specialty chemicals company’s stock worth $1,799,196,000 after buying an additional 58,463 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sherwin-Williams by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company’s stock worth $542,387,000 after buying an additional 15,843 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Sherwin-Williams by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,722 shares of the specialty chemicals company’s stock valued at $542,711,000 after purchasing an additional 78,075 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Sherwin-Williams by 3.8% in the 4th quarter. PineStone Asset Management Inc. now owns 1,124,999 shares of the specialty chemicals company’s stock valued at $382,421,000 after purchasing an additional 40,825 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the sale, the senior vice president now directly owns 29,205 shares of the company’s stock, valued at $11,621,253.60. The trade was a 35.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SHW. Morgan Stanley lowered their price objective on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada lowered their price objective on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. JPMorgan Chase & Co. lifted their price objective on Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Mizuho lowered their price objective on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Sherwin-Williams Trading Down 1.6 %

Shares of SHW opened at $344.54 on Friday. The stock has a fifty day moving average of $351.04 and a two-hundred day moving average of $365.24. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The company has a market capitalization of $86.77 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. The Sherwin-Williams Company has a fifty-two week low of $282.09 and a fifty-two week high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 0.92%. Sherwin-Williams’s payout ratio is 27.11%.

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.