M&T Bank Corp Purchases 773 Shares of The Sherwin-Williams Company (NYSE:SHW)

M&T Bank Corp grew its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,381 shares of the specialty chemicals company’s stock after purchasing an additional 773 shares during the quarter. M&T Bank Corp owned about 0.07% of Sherwin-Williams worth $52,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Sherwin-Williams by 65.4% in the third quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock worth $1,384,160,000 after acquiring an additional 2,146,102 shares during the period. Alphinity Investment Management Pty Ltd purchased a new position in shares of Sherwin-Williams during the fourth quarter worth about $432,737,000. International Assets Investment Management LLC raised its stake in Sherwin-Williams by 2,853.9% in the fourth quarter. International Assets Investment Management LLC now owns 650,186 shares of the specialty chemicals company’s stock valued at $202,793,000 after purchasing an additional 628,175 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Sherwin-Williams by 188.3% during the third quarter. The Manufacturers Life Insurance Company now owns 758,914 shares of the specialty chemicals company’s stock valued at $193,561,000 after purchasing an additional 495,668 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Sherwin-Williams by 49.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 985,909 shares of the specialty chemicals company’s stock worth $251,456,000 after buying an additional 327,372 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Gregory P. Sofish sold 1,830 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd D. Rea sold 2,449 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock valued at $10,340,237 over the last quarter. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Evercore ISI dropped their price objective on Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. BMO Capital Markets reissued an “outperform” rating and issued a $377.00 price target (down from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, April 24th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company upped their target price on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average target price of $341.39.

Sherwin-Williams Trading Up 2.2 %

Sherwin-Williams stock traded up $6.84 during mid-day trading on Friday, hitting $311.30. The company’s stock had a trading volume of 2,027,799 shares, compared to its average volume of 1,681,363. The Sherwin-Williams Company has a one year low of $221.76 and a one year high of $348.37. The stock has a market cap of $78.93 billion, a PE ratio of 33.19, a P/E/G ratio of 2.50 and a beta of 1.18. The company has a 50 day moving average of $327.00 and a 200-day moving average of $301.05. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.46 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.05). The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.04 EPS. On average, research analysts anticipate that The Sherwin-Williams Company will post 11.43 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.92%. Sherwin-Williams’s payout ratio is 30.49%.

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.