Allspring Global Investments Holdings LLC Lowers Stake in The Sherwin-Williams Company (NYSE:SHW)

Allspring Global Investments Holdings LLC cut its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 49.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 180,032 shares of the specialty chemicals company’s stock after selling 173,753 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sherwin-Williams were worth $60,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SHW. Valued Wealth Advisors LLC grew its holdings 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 worth $26,000 after buying an additional 32 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of Sherwin-Williams during the third quarter worth about $29,000. FSA Wealth Management LLC purchased a new stake in shares of Sherwin-Williams during the third quarter worth about $32,000. GHP Investment Advisors Inc. grew its holdings in shares of Sherwin-Williams by 47.5% during the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Sherwin-Williams during the third quarter worth about $38,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHW has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Morgan Stanley lowered their target price on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Evercore ISI boosted their target price on shares of Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Citigroup lowered their target price on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Sherwin-Williams Trading Up 1.7 %

NYSE SHW opened at $361.42 on Friday. The company’s fifty day simple moving average is $353.99 and its 200-day simple moving average is $365.12. The Sherwin-Williams Company has a 52 week low of $282.09 and a 52 week high of $400.42. 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 stock has a market cap of $91.02 billion, a P/E ratio of 34.26, a PEG ratio of 3.15 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $1.81 EPS. Equities research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Insider Transactions at Sherwin-Williams

In related news, SVP Mary L. Garceau sold 15,770 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the sale, the senior vice president now directly owns 29,205 shares of the company’s stock, valued at $11,621,253.60. This represents a 35.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the sale, the senior vice president now directly owns 6,329 shares in the company, valued at $2,396,349.27. This represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

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.