13,023 Shares in The Sherwin-Williams Company (NYSE:SHW) Bought by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,023 shares of the specialty chemicals company's stock, valued at approximately $4,548,000. Sherwin-Williams makes up approximately 1.0% of Financial Gravity Asset Management Inc.'s portfolio, making the stock its 26th largest position.

Several other hedge funds have also recently bought and sold shares of SHW. Alps Advisors Inc. acquired a new stake in Sherwin-Williams in the 1st quarter valued at about $367,000. Allworth Financial LP raised its position in Sherwin-Williams by 1.3% in the 1st quarter. Allworth Financial LP now owns 4,776 shares of the specialty chemicals company's stock valued at $1,597,000 after purchasing an additional 59 shares in the last quarter. Parr Mcknight Wealth Management Group LLC raised its position in Sherwin-Williams by 7.3% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 5,877 shares of the specialty chemicals company's stock valued at $2,052,000 after purchasing an additional 398 shares in the last quarter. Leavell Investment Management Inc. raised its position in Sherwin-Williams by 1.9% in the 1st quarter. Leavell Investment Management Inc. now owns 4,198 shares of the specialty chemicals company's stock valued at $1,466,000 after purchasing an additional 77 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its position in Sherwin-Williams by 17.3% in the 1st quarter. Quotient Wealth Partners LLC now owns 1,280 shares of the specialty chemicals company's stock valued at $447,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of analyst reports. Citigroup lowered Sherwin-Williams from a "buy" rating to a "neutral" rating and reduced their price target for the company from $405.00 to $385.00 in a research report on Friday, June 13th. Wells Fargo & Company raised Sherwin-Williams from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $350.00 to $420.00 in a research report on Wednesday, April 30th. Barclays dropped their price objective on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Royal Bank Of Canada increased their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Morgan Stanley dropped 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Sherwin-Williams presently has an average rating of "Moderate Buy" and a consensus target price of $391.94.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock traded up $0.26 during trading on Thursday, reaching $351.80. The company's stock had a trading volume of 1,216,367 shares, compared to its average volume of 1,722,700. 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 12-month low of $306.63 and a 12-month high of $400.42. The company has a market capitalization of $88.16 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 3.16 and a beta of 1.18. The business has a 50 day moving average price of $351.43 and a 200-day moving average price of $347.96.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted 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 firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.42 billion. Sherwin-Williams had a return on equity of 71.86% and a net margin of 11.63%. The company'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 business earned $2.17 earnings per share. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a dividend of $0.79 per share. The ex-dividend date was Friday, May 16th. This represents a $3.16 annualized dividend and a yield of 0.90%. Sherwin-Williams's dividend payout ratio is presently 29.87%.

About Sherwin-Williams

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.