Truist Financial Corp Acquires 446 Shares of The Sherwin-Williams Company (NYSE:SHW)

Truist Financial Corp increased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,204 shares of the specialty chemicals company’s stock after acquiring an additional 446 shares during the quarter. Truist Financial Corp’s holdings in Sherwin-Williams were worth $15,579,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SHW. Vanguard Group Inc. raised its holdings in Sherwin-Williams by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after acquiring an additional 184,979 shares in the last quarter. Capital International Investors boosted its position in shares of Sherwin-Williams by 10.5% during the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock worth $799,595,000 after acquiring an additional 219,149 shares in the last quarter. Legal & General Group Plc increased its stake in Sherwin-Williams by 2.9% in the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after acquiring an additional 53,487 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Sherwin-Williams by 2.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,820,266 shares of the specialty chemicals company’s stock valued at $567,740,000 after purchasing an additional 49,809 shares in the last quarter. Finally, PineStone Asset Management Inc. lifted its stake in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams stock opened at $371.30 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $385.25. The business has a 50-day simple moving average of $363.56 and a 200 day simple moving average of $331.21. The firm has a market capitalization of $94.14 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.01 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $3.29 earnings per share. On average, research analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI lifted their price target on Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Jefferies Financial Group upped their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a report on Friday, August 30th. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, UBS Group raised their price objective on shares of Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.39.

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.