Envestnet Asset Management Inc. Lowers Holdings in The Sherwin-Williams Company (NYSE:SHW)

Envestnet Asset Management Inc. reduced its stake in The Sherwin-Williams Company (NYSE:SHW) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,081,568 shares of the specialty chemicals company’s stock after selling 13,516 shares during the period. Envestnet Asset Management Inc. owned approximately 0.43% of Sherwin-Williams worth $367,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in Sherwin-Williams during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new position in shares of Sherwin-Williams in the fourth quarter worth approximately $28,000. Sierra Ocean LLC purchased a new stake in shares of Sherwin-Williams during the fourth quarter valued at approximately $36,000. WR Wealth Planners LLC increased its position in shares of Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 35 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in Sherwin-Williams in the 4th quarter worth approximately $41,000. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Trading Down 2.6 %

Sherwin-Williams stock opened at $331.91 on Friday. 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 Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42. The firm has a market capitalization of $83.48 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 2.98 and a beta of 1.23. The firm has a 50 day moving average of $352.24 and a 200 day moving average of $362.80.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business posted $1.81 EPS. As a group, research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio is 29.95%.

Insider Buying and Selling

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the company’s stock in a transaction that occurred 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 directly owns 5,365 shares in the company, valued at $1,933,009.50. This represents a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays cut their target price on Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. 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. Jefferies Financial Group restated a “hold” rating and set a $380.00 target price (down previously from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho lowered their price objective on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $398.94.

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.