Sitrin Capital Management LLC Has $5.21 Million Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Sitrin Capital Management LLC lifted its position in The Sherwin-Williams Company (NYSE:SHW) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,313 shares of the specialty chemicals company’s stock after buying an additional 158 shares during the period. Sherwin-Williams makes up about 2.6% of Sitrin Capital Management LLC’s portfolio, making the stock its 19th largest position. Sitrin Capital Management LLC’s holdings in Sherwin-Williams were worth $5,205,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Sherwin-Williams by 1.8% in the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock valued at $595,000 after buying an additional 28 shares during the period. GHP Investment Advisors Inc. raised its holdings in Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 28 shares in the last quarter. First Interstate Bank lifted its position in shares of Sherwin-Williams by 1.9% during the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after acquiring an additional 28 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in shares of Sherwin-Williams by 4.2% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 720 shares of the specialty chemicals company’s stock worth $275,000 after purchasing an additional 29 shares in the last quarter. Finally, Essex Savings Bank increased its position in shares of Sherwin-Williams by 3.4% in the third quarter. Essex Savings Bank now owns 880 shares of the specialty chemicals company’s stock worth $336,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHW. Berenberg Bank raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and upped their price objective for the stock from $321.00 to $420.00 in a research report on Friday, January 24th. Zelman & Associates upgraded Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. Royal Bank of Canada decreased their target price on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Mizuho cut their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.59.

Sherwin-Williams Stock Up 2.7 %

SHW opened at $353.18 on Wednesday. The stock has a market cap of $88.78 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The firm’s fifty day moving average is $350.43 and its 200 day moving average is $365.62. The Sherwin-Williams Company has a fifty-two week low of $282.09 and a fifty-two week high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (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 prior year, the company posted $1.81 EPS. On average, sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.89%. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s dividend payout ratio is currently 29.95%.

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.