PNC Financial Services Group Inc. Purchases 124,257 Shares of The Sherwin-Williams Company (NYSE:SHW)

PNC Financial Services Group Inc. boosted its position in The Sherwin-Williams Company (NYSE:SHW) by 93.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 256,737 shares of the specialty chemicals company’s stock after purchasing an additional 124,257 shares during the period. PNC Financial Services Group Inc.’s holdings in Sherwin-Williams were worth $87,273,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at about $26,000. First Personal Financial Services acquired a new position in Sherwin-Williams in the third quarter valued at approximately $29,000. FSA Wealth Management LLC bought a new position in shares of Sherwin-Williams during the 3rd quarter worth approximately $32,000. Sierra Ocean LLC bought a new position in shares of Sherwin-Williams during the 4th quarter worth approximately $36,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Sherwin-Williams during the 3rd quarter worth approximately $38,000. Institutional investors own 77.67% of the company’s stock.

Insider Activity

In related 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 completion of the transaction, the insider now owns 5,365 shares in the company, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHW. Zelman & Associates raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Friday, January 17th. Mizuho cut 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. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Citigroup reiterated a “buy” rating and issued a $423.00 price target (up previously from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price objective on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $403.31.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $363.99 on Friday. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42. The company has a market cap of $91.55 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.98 and a beta of 1.23. The firm has a 50-day moving average of $352.70 and a 200-day moving average of $365.93. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46.

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 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 previous year, the company posted $1.81 EPS. Equities research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s dividend payout ratio is 29.95%.

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.