abrdn plc Increases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

abrdn plc raised its position in The Sherwin-Williams Company (NYSE:SHW) by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,787 shares of the specialty chemicals company’s stock after acquiring an additional 82,504 shares during the quarter. abrdn plc’s holdings in Sherwin-Williams were worth $66,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC raised its position in Sherwin-Williams by 80.0% during the 4th quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock valued at $400,000 after purchasing an additional 523 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock valued at $694,000 after acquiring an additional 209 shares in the last quarter. Tamar Securities LLC lifted its stake in Sherwin-Williams by 3.4% in the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after acquiring an additional 1,604 shares during the period. Park Avenue Securities LLC increased its position in Sherwin-Williams by 52.6% during the 4th quarter. Park Avenue Securities LLC now owns 6,680 shares of the specialty chemicals company’s stock valued at $2,271,000 after purchasing an additional 2,303 shares during the period. Finally, Burney Co. raised its holdings in Sherwin-Williams by 4.6% in the 4th quarter. Burney Co. now owns 17,272 shares of the specialty chemicals company’s stock worth $5,871,000 after purchasing an additional 766 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Stock Performance

Shares of SHW opened at $357.72 on Wednesday. The company has a market cap of $90.09 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 2.86 and a beta of 1.22. The business’s fifty day simple moving average is $358.81 and its two-hundred day simple moving average is $364.09. The Sherwin-Williams Company has a 12 month low of $282.09 and a 12 month 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.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share 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 period last year, the business posted $1.81 earnings per share. Research analysts anticipate that The Sherwin-Williams Company will post 12.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. This represents a 28.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the transaction, the senior vice president now directly owns 29,205 shares in the company, valued at approximately $11,621,253.60. This represents a 35.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHW. JPMorgan Chase & Co. boosted their price target on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup reduced their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Barclays raised their target price on Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price target on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price objective on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.