Elevation Point Wealth Partners LLC Sells 3,209 Shares of The Sherwin-Williams Company (NYSE:SHW)

Elevation Point Wealth Partners LLC decreased its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 57.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,396 shares of the specialty chemicals company's stock after selling 3,209 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Sherwin-Williams were worth $837,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHW. Everhart Financial Group Inc. lifted its stake in Sherwin-Williams by 5.9% during the first quarter. Everhart Financial Group Inc. now owns 1,716 shares of the specialty chemicals company's stock worth $599,000 after purchasing an additional 96 shares during the period. Bensler LLC raised its holdings in shares of Sherwin-Williams by 4.4% in the 1st quarter. Bensler LLC now owns 24,278 shares of the specialty chemicals company's stock worth $8,478,000 after buying an additional 1,020 shares in the last quarter. Smithbridge Asset Management Inc. DE bought a new position in shares of Sherwin-Williams during the first quarter valued at $6,658,000. Albert D Mason Inc. boosted its position in Sherwin-Williams by 2.1% in the first quarter. Albert D Mason Inc. now owns 6,499 shares of the specialty chemicals company's stock valued at $2,269,000 after buying an additional 136 shares in the last quarter. Finally, Thomasville National Bank grew its position in Sherwin-Williams by 23.6% during the 1st quarter. Thomasville National Bank now owns 989 shares of the specialty chemicals company's stock worth $345,000 after acquiring an additional 189 shares during the last quarter. 77.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Mizuho set a $395.00 price objective on shares of Sherwin-Williams in a report on Tuesday, April 15th. Citigroup cut shares of Sherwin-Williams from a "buy" rating to a "neutral" rating and decreased their price target for the company from $405.00 to $385.00 in a research note on Friday, June 13th. UBS Group lowered their price target on shares of Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating for the company in a report on Monday, April 7th. Morgan Stanley reduced their price objective on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised Sherwin-Williams from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $397.67.

Sherwin-Williams Trading Up 0.2%

NYSE:SHW traded up $0.74 during mid-day trading on Wednesday, hitting $331.77. The company had a trading volume of 807,100 shares, compared to its average volume of 1,722,647. The firm has a market cap of $83.14 billion, a P/E ratio of 31.36, a P/E/G ratio of 3.05 and a beta of 1.21. The Sherwin-Williams Company has a fifty-two week low of $292.27 and a fifty-two week high of $400.42. The business's fifty day moving average is $348.48 and its two-hundred day moving average is $350.77. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.02. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. Sherwin-Williams's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company posted $2.17 EPS. As a group, research analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, May 16th. Sherwin-Williams's dividend payout ratio (DPR) is 29.87%.

Sherwin-Williams 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.