Park National Corp OH Sells 2,028 Shares of The Sherwin-Williams Company (NYSE:SHW)

Park National Corp OH trimmed its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 29.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,769 shares of the specialty chemicals company's stock after selling 2,028 shares during the quarter. Park National Corp OH's holdings in Sherwin-Williams were worth $1,665,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new position in shares of Sherwin-Williams during the fourth quarter valued at about $26,000. Park Square Financial Group LLC bought a new position in Sherwin-Williams in the 4th quarter worth $27,000. Lee Danner & Bass Inc. bought a new position in Sherwin-Williams in the 4th quarter worth $28,000. Sierra Ocean LLC bought a new position in Sherwin-Williams in the 4th quarter worth $36,000. Finally, WR Wealth Planners LLC raised its holdings in Sherwin-Williams by 41.7% in the 4th quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company's stock worth $40,000 after purchasing an additional 35 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $350.00 to $420.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $370.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Barclays decreased their target price on 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. Jefferies Financial Group reiterated a "hold" rating and issued a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Finally, Robert W. Baird set a $370.00 price objective on Sherwin-Williams in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $397.00.

Sherwin-Williams Stock Performance

Shares of SHW traded up $3.08 during trading hours on Friday, hitting $358.83. The stock had a trading volume of 2,509,202 shares, compared to its average volume of 1,742,634. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The Sherwin-Williams Company has a 12 month low of $282.09 and a 12 month high of $400.42. The firm has a market capitalization of $89.92 billion, a PE ratio of 34.01, a PEG ratio of 2.98 and a beta of 1.25. The stock has a fifty day moving average price of $344.83 and a 200 day moving average price of $353.88.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.02. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.42 billion. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. The business's quarterly revenue 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. Analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is 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.