Envestnet Portfolio Solutions Inc. decreased its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,594 shares of the specialty chemicals company's stock after selling 8,698 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Sherwin-Williams were worth $4,398,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $26,000. 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 bought a new position in Sherwin-Williams in the first quarter worth approximately $27,000. Lee Danner & Bass Inc. bought a new position in Sherwin-Williams in the fourth quarter worth approximately $28,000. Finally, WR Wealth Planners LLC boosted its holdings in Sherwin-Williams by 41.7% in the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company's stock worth $40,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on SHW. Wells Fargo & Company raised Sherwin-Williams from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $350.00 to $420.00 in a research note on Wednesday, April 30th. Mizuho set a $395.00 price target on Sherwin-Williams in a research report on Tuesday, April 15th. Jefferies Financial Group reaffirmed a "hold" rating and set a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Royal Bank Of Canada increased their price target on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Citigroup downgraded Sherwin-Williams from a "buy" rating to a "neutral" rating and decreased their price target for the company from $405.00 to $385.00 in a research report on Friday, June 13th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Sherwin-Williams has a consensus rating of "Moderate Buy" and a consensus price target of $397.67.
Check Out Our Latest Analysis on SHW
Sherwin-Williams Stock Performance
Shares of Sherwin-Williams stock traded up $1.42 during trading hours on Friday, reaching $332.89. The company had a trading volume of 2,702,942 shares, compared to its average volume of 1,725,360. The Sherwin-Williams Company has a one year low of $292.27 and a one year high of $400.42. The business has a fifty day simple moving average of $348.31 and a 200 day simple moving average of $349.21. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.77 and a quick ratio of 0.45. The firm has a market cap of $83.42 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21.
Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a return on equity of 71.86% and a net margin of 11.63%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company earned $2.17 earnings per share. On average, analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.
Sherwin-Williams Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams's dividend payout ratio is 29.87%.
Sherwin-Williams Company Profile
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Free Report)
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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