Investment firm J.W. Cole Advisors Inc. has increased its holdings in The Sherwin-Williams Company (NYSE: SHW) by 2.8% during the second quarter of 2023. According to data from HoldingsChannel.com, the institutional investor now owns 8,875 shares of the specialty chemicals company, which are valued at approximately $3.05 million as of the end of the quarter.
This adjustment comes as part of a broader trend among institutional investors, many of whom have modified their stakes in Sherwin-Williams. For instance, Brighton Jones LLC raised its holdings by an impressive 73.6% in the fourth quarter, now owning 1,545 shares worth around $525,000 after acquiring an additional 655 shares. Similarly, LPL Financial LLC increased its stake by 8.7% in the first quarter, bringing its total to 217,958 shares valued at approximately $75.73 million.
Other notable changes include Norden Group LLC, which grew its position by 6.4%, now holding 1,137 shares valued at $397,000, and Foundations Investment Advisors LLC, which raised its holdings by 4.9%, now owning 2,074 shares worth $724,000. Additionally, Meeder Advisory Services Inc. increased its stake by 5.5%, resulting in ownership of 5,556 shares valued at $1.94 million. Overall, institutional investors currently hold 77.67% of Sherwin-Williams’ stock.
Sherwin-Williams Stock Performance and Dividends
As of the latest trading session, Sherwin-Williams stock opened at $343.48. The company has a market capitalization of $85.15 billion, a price-to-earnings ratio of 33.51, and a PEG ratio of 3.26. The stock has experienced a 52-week low of $308.84 and a high of $400.42. Financial metrics include a debt-to-equity ratio of 2.11, a quick ratio of 0.48, and a current ratio of 0.82, with a 50-day moving average of $338.82 and a 200-day moving average of $347.96.
In addition to its stock performance, Sherwin-Williams recently announced a quarterly dividend of $0.79 per share, which will be paid on December 5, 2023. Shareholders on record as of November 14, 2023 will receive this dividend, reflecting an annualized total of $3.16 and a yield rate of 0.9%. The company’s current dividend payout ratio stands at 30.83%.
Analysts’ Ratings and Future Projections
Equity research analysts have been actively revising their price targets for Sherwin-Williams. On October 29, 2023, JPMorgan Chase & Co. raised its price target from $378.00 to $385.00, maintaining an “overweight” rating. Conversely, Bank of America lowered its target from $375.00 to $368.00, assigning a “neutral” rating.
Other analysts have also weighed in, with Citigroup reiterating a “neutral” rating and adjusting its target to $392.00, while Evercore ISI increased its target from $380.00 to $400.00, giving the stock an “outperform” rating. Overall, one analyst rates Sherwin-Williams as a “Strong Buy,” ten as “Buy,” and five as “Hold,” leading to a consensus rating of “Moderate Buy” with an average price target of $390.87.
Sherwin-Williams remains a key player in the development, manufacture, distribution, and sale of paints and coatings, serving professional, industrial, commercial, and retail markets. The company operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.
For those interested in the latest developments regarding Sherwin-Williams and its shareholders, HoldingsChannel.com provides updated 13F filings and insider trades.
