Park Place Capital Corp Reduces Stake in The Sherwin-Williams Company (NYSE:SHW)

Park Place Capital Corp lowered its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 48.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,053 shares of the specialty chemicals company's stock after selling 987 shares during the period. Park Place Capital Corp's holdings in Sherwin-Williams were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams during the 4th quarter valued at about $27,000. Perkins Coie Trust Co purchased a new position in shares of Sherwin-Williams in the first quarter worth approximately $27,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC increased its holdings 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 valued at $40,000 after buying an additional 35 shares during the last quarter. Finally, HWG Holdings LP bought a new position in Sherwin-Williams in the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Down 0.4%

SHW opened at $342.15 on Friday. The company has a market capitalization of $85.74 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.21. The firm has a 50-day simple moving average of $348.96 and a two-hundred day simple moving average of $348.63. 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 52 week low of $292.33 and a 52 week high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the business earned $2.17 earnings per share. Sherwin-Williams's quarterly revenue was down 1.1% compared to the same quarter last year. Analysts forecast 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 given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams's dividend payout ratio is currently 29.87%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SHW shares. Morgan Stanley dropped their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup downgraded Sherwin-Williams from a "buy" rating to a "neutral" rating and lowered their target price for the company from $405.00 to $385.00 in a research report on Friday, June 13th. Mizuho set a $395.00 price target on Sherwin-Williams in a report on Tuesday, April 15th. Barclays decreased their price objective on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $380.00 price objective (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

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