The Sherwin-Williams Company (NYSE:SHW) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 511,634 shares of the specialty chemicals company's stock after selling 1,110 shares during the quarter. Sherwin-Williams accounts for 1.0% of DAVENPORT & Co LLC's portfolio, making the stock its 13th biggest holding. DAVENPORT & Co LLC owned approximately 0.20% of Sherwin-Williams worth $177,080,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SHW. Park Square Financial Group LLC purchased a new stake in Sherwin-Williams during the fourth quarter valued at approximately $27,000. Perkins Coie Trust Co purchased a new stake in Sherwin-Williams during the 1st quarter valued at $27,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams in the fourth quarter worth $28,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Sherwin-Williams during the first quarter worth $30,000. Finally, WR Wealth Planners LLC boosted its stake in Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company's stock worth $40,000 after buying an additional 35 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Up 3.5%

Shares of NYSE SHW traded up $12.07 during midday trading on Tuesday, reaching $355.43. 2,310,237 shares of the company's stock traded hands, compared to its average volume of 1,720,275. The company has a market cap of $89.07 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 3.11 and a beta of 1.21. The stock's 50 day simple moving average is $349.63 and its 200-day simple moving average is $348.01. The company has a quick ratio of 0.45, a current ratio of 0.77 and a debt-to-equity ratio of 1.90. The Sherwin-Williams Company has a one year low of $292.33 and a one year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.23 by $0.02. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a return on equity of 71.86% and a net margin of 11.63%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. On average, analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, May 16th. Sherwin-Williams's dividend payout ratio is currently 29.87%.

Analyst Ratings Changes

SHW has been the subject of several analyst reports. Wells Fargo & Company upgraded shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $350.00 to $420.00 in a report on Wednesday, April 30th. Morgan Stanley reduced 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 report on Tuesday, April 22nd. Jefferies Financial Group restated a "hold" rating and set a $380.00 target price (down previously from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Bank of America upped their target price on Sherwin-Williams from $289.00 to $296.00 and gave the company an "underperform" rating in a research note on Monday, June 23rd. Finally, Barclays decreased their price target on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $391.31.

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.