The Sherwin-Williams Company (NYSE:SHW) Stock Position Trimmed by Jessup Wealth Management Inc

Jessup Wealth Management Inc lessened its holdings in The Sherwin-Williams Company (NYSE:SHW) by 0.8% in the first quarter, Holdings Channel reports. The firm owned 23,428 shares of the specialty chemicals company’s stock after selling 195 shares during the period. Sherwin-Williams accounts for 3.5% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 9th largest holding. Jessup Wealth Management Inc’s holdings in Sherwin-Williams were worth $8,137,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Sherwin-Williams during the 4th quarter valued at $1,176,356,000. Alphinity Investment Management Pty Ltd bought a new position in Sherwin-Williams during the fourth quarter worth about $432,737,000. Capital World Investors increased its stake in shares of Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Sherwin-Williams by 2,853.9% during the 4th quarter. International Assets Investment Management LLC now owns 650,186 shares of the specialty chemicals company’s stock valued at $202,793,000 after buying an additional 628,175 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Sherwin-Williams by 8,986.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock worth $166,592,000 after buying an additional 528,243 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SHW. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Mizuho lowered their price target on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets reduced their price objective on shares of Sherwin-Williams from $377.00 to $360.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. UBS Group raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and upped their target price for the stock from $312.00 to $402.00 in a report on Thursday, March 7th. Finally, Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $343.41.

Sherwin-Williams Stock Performance

NYSE SHW traded up $2.20 on Friday, hitting $299.20. 424,353 shares of the company’s stock traded hands, compared to its average volume of 1,566,251. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The firm’s 50-day moving average price is $305.49 and its two-hundred day moving average price is $313.37. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $348.37. The firm has a market capitalization of $75.86 billion, a PE ratio of 31.79, a P/E/G ratio of 2.39 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.04 EPS. As a group, analysts expect that The Sherwin-Williams Company will post 11.43 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

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.