Principal Financial Group Inc. Boosts Stock Position in The Sherwin-Williams Company (NYSE:SHW)

by · The Markets Daily

Principal Financial Group Inc. boosted its stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,047,174 shares of the specialty chemicals company’s stock after buying an additional 10,709 shares during the period. Principal Financial Group Inc. owned 0.41% of Sherwin-Williams worth $399,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valued Wealth Advisors LLC increased its stake in shares of Sherwin-Williams by 88.9% during the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 32 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Sherwin-Williams by 47.5% in the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares during the last quarter. Semmax Financial Advisors Inc. boosted its stake in shares of Sherwin-Williams by 136.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 60 shares during the last quarter. Finally, VitalStone Financial LLC boosted its stake in shares of Sherwin-Williams by 233.3% during the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 77 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Finally, Robert W. Baird increased their target price on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Read Our Latest Research Report on Sherwin-Williams

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Up 0.7 %

SHW stock opened at $380.78 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a twelve month low of $249.49 and a twelve month high of $392.57. The company’s 50 day moving average is $373.38 and its two-hundred day moving average is $338.03. The stock has a market cap of $95.90 billion, a P/E ratio of 37.93, a PEG ratio of 3.02 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the business posted $3.20 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.75%. Sherwin-Williams’s payout ratio is 28.49%.

Sherwin-Williams Company Profile

(Free Report)

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.

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