Azimuth Capital Investment Management LLC Sells 1,128 Shares of The Sherwin-Williams Company (NYSE:SHW)

Azimuth Capital Investment Management LLC lessened its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 63,673 shares of the specialty chemicals company’s stock after selling 1,128 shares during the period. Sherwin-Williams accounts for 0.8% of Azimuth Capital Investment Management LLC’s portfolio, making the stock its 29th largest position. Azimuth Capital Investment Management LLC’s holdings in Sherwin-Williams were worth $21,644,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Sherwin-Williams in the 4th quarter valued at about $1,359,747,000. Raymond James Financial Inc. acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $230,829,000. Proficio Capital Partners LLC increased its stake in Sherwin-Williams by 41,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 479,472 shares of the specialty chemicals company’s stock valued at $162,987,000 after purchasing an additional 478,320 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Sherwin-Williams by 28.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,032,170 shares of the specialty chemicals company’s stock worth $690,796,000 after purchasing an additional 451,505 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Sherwin-Williams by 79.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 653,548 shares of the specialty chemicals company’s stock worth $219,945,000 after purchasing an additional 289,450 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Down 2.9 %

SHW stock opened at $313.44 on Wednesday. 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 business’s 50 day simple moving average is $349.46 and its 200 day simple moving average is $361.52. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42. The firm has a market capitalization of $78.83 billion, a PE ratio of 29.71, a PEG ratio of 2.98 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $1.81 earnings per share. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 1.01%. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s payout ratio is currently 29.95%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction dated 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 in the company, valued at $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. 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. Jefferies Financial Group reiterated a “hold” rating and issued a $380.00 price objective (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Mizuho dropped their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird set a $370.00 price target on shares of Sherwin-Williams in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $395.19.

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.