Procyon Advisors LLC Sells 862 Shares of The Sherwin-Williams Company (NYSE:SHW)

Procyon Advisors LLC lowered its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,134 shares of the specialty chemicals company's stock after selling 862 shares during the quarter. Procyon Advisors LLC's holdings in Sherwin-Williams were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Sherwin-Williams by 73.6% during the 4th quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company's stock valued at $525,000 after acquiring an additional 655 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at approximately $169,000. Golden State Wealth Management LLC bought a new position in Sherwin-Williams during the fourth quarter valued at approximately $47,000. Appleton Partners Inc. MA lifted its position in Sherwin-Williams by 2.1% during the fourth quarter. Appleton Partners Inc. MA now owns 34,496 shares of the specialty chemicals company's stock valued at $11,726,000 after purchasing an additional 705 shares during the period. Finally, Joel Isaacson & Co. LLC purchased a new stake in Sherwin-Williams in the fourth quarter worth approximately $305,000. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Price Performance

NYSE SHW opened at $357.65 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The Sherwin-Williams Company has a 12 month low of $290.18 and a 12 month high of $400.42. The stock has a market cap of $89.63 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.98 and a beta of 1.21. The company's 50 day moving average is $346.06 and its two-hundred day moving average is $352.98.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The firm had revenue of $5.31 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were given a $0.79 dividend. The ex-dividend date was Friday, May 16th. This represents a $3.16 annualized dividend and a dividend yield of 0.88%. Sherwin-Williams's payout ratio is 29.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SHW shares. UBS Group decreased their target price on shares of Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company upgraded Sherwin-Williams from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $350.00 to $420.00 in a research report on Wednesday, April 30th. Royal Bank of Canada increased their target price on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Mizuho set a $395.00 target price on Sherwin-Williams in a research report on Tuesday, April 15th. Finally, Morgan Stanley reduced their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.00.

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.

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