Corebridge Financial Inc. Lowers Holdings in The Sherwin-Williams Company (NYSE:SHW)

Corebridge Financial Inc. lowered its holdings in The Sherwin-Williams Company (NYSE:SHW) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,309 shares of the specialty chemicals company’s stock after selling 1,195 shares during the quarter. Corebridge Financial Inc.’s holdings in Sherwin-Williams were worth $21,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Congress Wealth Management LLC DE grew its position in Sherwin-Williams by 0.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 52,849 shares of the specialty chemicals company’s stock worth $17,965,000 after purchasing an additional 363 shares during the period. Vanguard Group Inc. increased its stake in shares of Sherwin-Williams by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,836,648 shares of the specialty chemicals company’s stock worth $7,422,932,000 after purchasing an additional 138,170 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at approximately $243,000. Blueprint Investment Partners LLC lifted its holdings in Sherwin-Williams by 24.4% in the 4th quarter. Blueprint Investment Partners LLC now owns 781 shares of the specialty chemicals company’s stock valued at $266,000 after purchasing an additional 153 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Sherwin-Williams during the fourth quarter worth about $37,148,000. Institutional investors own 77.67% of the company’s stock.

Analyst Ratings Changes

SHW has been the subject of several analyst reports. Royal Bank of Canada dropped their target price on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Morgan Stanley dropped 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. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Berenberg Bank upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and boosted their price target for the stock from $321.00 to $420.00 in a research note on Friday, January 24th. Finally, Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $401.13.

Sherwin-Williams Trading Up 2.5 %

NYSE:SHW opened at $342.90 on Tuesday. The company has a market capitalization of $86.24 billion, a PE ratio of 32.50, a P/E/G ratio of 2.98 and a beta of 1.23. The Sherwin-Williams Company has a 52-week low of $282.09 and a 52-week high of $400.42. The stock’s 50 day moving average price is $354.10 and its 200 day moving average price is $364.49. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, beating 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 period in the previous year, the business posted $1.81 EPS. On average, research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.95%.

Insider Activity at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of Sherwin-Williams stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the transaction, the insider now directly owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

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.