Carnegie Investment Counsel Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Carnegie Investment Counsel trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,986 shares of the specialty chemicals company's stock after selling 2,006 shares during the quarter. Sherwin-Williams accounts for about 1.2% of Carnegie Investment Counsel's portfolio, making the stock its 15th largest position. Carnegie Investment Counsel owned approximately 0.07% of Sherwin-Williams worth $54,237,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SHW. Northern Financial Advisors Inc grew its position in Sherwin-Williams by 17.8% during the 1st quarter. Northern Financial Advisors Inc now owns 2,599 shares of the specialty chemicals company's stock worth $908,000 after purchasing an additional 393 shares during the last quarter. Financial & Tax Architects LLC lifted its stake in shares of Sherwin-Williams by 3.1% during the first quarter. Financial & Tax Architects LLC now owns 18,878 shares of the specialty chemicals company's stock worth $6,592,000 after buying an additional 575 shares during the period. AE Wealth Management LLC grew its holdings in shares of Sherwin-Williams by 9.8% during the first quarter. AE Wealth Management LLC now owns 8,472 shares of the specialty chemicals company's stock valued at $2,959,000 after buying an additional 759 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Sherwin-Williams by 5.1% in the 1st quarter. Wedbush Securities Inc. now owns 3,787 shares of the specialty chemicals company's stock valued at $1,322,000 after acquiring an additional 185 shares during the period. Finally, IMA Advisory Services Inc. purchased a new position in Sherwin-Williams in the 1st quarter worth $56,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHW has been the topic of several research analyst reports. Citigroup dropped their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research note on Wednesday. Loop Capital dropped their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday. Mizuho cut their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a report on Wednesday. Barclays reduced their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Finally, Morgan Stanley cut their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $383.33.

Sherwin-Williams Price Performance

NYSE SHW traded down $0.34 during trading hours on Friday, reaching $339.87. The company's stock had a trading volume of 1,867,755 shares, compared to its average volume of 1,678,218. The firm has a market capitalization of $85.17 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 3.21 and a beta of 1.18. The company's 50-day moving average is $348.62 and its two-hundred day moving average is $348.06. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.45. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $3.70 EPS. On average, equities analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a $0.79 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.16 annualized dividend and a dividend yield of 0.93%. Sherwin-Williams's dividend payout ratio (DPR) is 31.35%.

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.