Truist Financial Corp Sells 19,482 Shares of The Sherwin-Williams Company (NYSE:SHW)

Truist Financial Corp reduced its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 27.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,640 shares of the specialty chemicals company’s stock after selling 19,482 shares during the quarter. Truist Financial Corp’s holdings in Sherwin-Williams were worth $16,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams during the 3rd quarter worth approximately $25,000. Union Savings Bank bought a new position in shares of Sherwin-Williams in the third quarter valued at about $28,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Sherwin-Williams during the 4th quarter worth about $35,000. Wetzel Investment Advisors Inc. acquired a new position in Sherwin-Williams in the 4th quarter valued at about $36,000. Finally, Lee Financial Co bought a new position in Sherwin-Williams in the 3rd quarter valued at about $32,000. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at $2,029,710.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,050 shares of company stock worth $10,340,237. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Trading Down 2.1 %

Shares of SHW stock opened at $299.60 on Wednesday. The Sherwin-Williams Company has a 52-week low of $221.76 and a 52-week high of $348.37. The business’s fifty day moving average is $327.76 and its 200 day moving average is $300.59. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.46 and a current ratio of 0.78. The company has a market capitalization of $76.24 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 EPS. On average, equities research analysts anticipate that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Seaport Res Ptn lowered Sherwin-Williams from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Wells Fargo & Company lifted their target price on Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. KeyCorp upgraded shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price target on the stock in a research note on Thursday, April 25th. Citigroup dropped their price objective on shares of Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, BMO Capital Markets restated an “outperform” rating and set a $377.00 target price (down previously from $385.00) on shares of Sherwin-Williams in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $341.39.

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.