Palumbo Wealth Management LLC Has $3.04 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Palumbo Wealth Management LLC raised its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 30.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,691 shares of the specialty chemicals company's stock after buying an additional 2,044 shares during the quarter. Sherwin-Williams comprises 1.0% of Palumbo Wealth Management LLC's portfolio, making the stock its 26th biggest position. Palumbo Wealth Management LLC's holdings in Sherwin-Williams were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Sherwin-Williams by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,836,648 shares of the specialty chemicals company's stock worth $7,422,932,000 after buying an additional 138,170 shares during the period. FMR LLC grew its stake in Sherwin-Williams by 1.6% in the fourth quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company's stock valued at $2,239,715,000 after acquiring an additional 106,093 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sherwin-Williams by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company's stock worth $1,636,679,000 after acquiring an additional 96,571 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Sherwin-Williams by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company's stock worth $1,467,138,000 after purchasing an additional 86,268 shares during the period. Finally, Norges Bank acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth about $1,359,747,000. 77.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SHW. Bank of America increased their target price on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research note on Monday. Barclays lowered their target price on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company raised Sherwin-Williams from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Morgan Stanley reduced their price objective on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $380.00 price objective (down from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $391.31.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded down $1.47 during midday trading on Thursday, reaching $342.15. 1,724,292 shares of the company's stock were exchanged, compared to its average volume of 1,718,444. The stock's 50-day simple moving average is $348.96 and its 200 day simple moving average is $348.63. The firm has a market cap of $85.74 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 3.09 and a beta of 1.21. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The Sherwin-Williams Company has a 52 week low of $292.33 and a 52 week high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its 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. Sherwin-Williams had a return on equity of 71.86% and a net margin of 11.63%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the company posted $2.17 EPS. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, May 16th. Sherwin-Williams's dividend payout ratio is presently 29.87%.

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.