US Bancorp DE Sells 6,012 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• US Bancorp DE reduced its stake in Sherwin-Williams by 3.8%, now holding 153,411 shares valued at approximately $53.57 million.
• Sherwin-Williams recently reported earnings per share of $3.38, missing expectations by $0.38, with revenue of $6.31 billion for the quarter.
• The company announced a quarterly dividend of $0.79 per share, reflecting an annualized dividend of $3.16 and a yield of 0.9%.

US Bancorp DE lessened its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,411 shares of the specialty chemicals company's stock after selling 6,012 shares during the period. US Bancorp DE owned 0.06% of Sherwin-Williams worth $53,570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC boosted its holdings in shares of Sherwin-Williams by 3.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,096 shares of the specialty chemicals company's stock worth $362,000 after buying an additional 33 shares during the period. Elios Financial Group Inc. raised its holdings in Sherwin-Williams by 12.3% in the 1st quarter. Elios Financial Group Inc. now owns 4,467 shares of the specialty chemicals company's stock worth $1,560,000 after acquiring an additional 489 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Sherwin-Williams by 13.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,043 shares of the specialty chemicals company's stock worth $1,412,000 after acquiring an additional 473 shares during the last quarter. Cordatus Wealth Management LLC boosted its holdings in Sherwin-Williams by 2.9% during the first quarter. Cordatus Wealth Management LLC now owns 3,870 shares of the specialty chemicals company's stock valued at $1,351,000 after acquiring an additional 109 shares during the period. Finally, Bristol Gate Capital Partners Inc. grew its position in shares of Sherwin-Williams by 0.5% in the first quarter. Bristol Gate Capital Partners Inc. now owns 288,082 shares of the specialty chemicals company's stock valued at $100,596,000 after purchasing an additional 1,392 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SHW. Loop Capital cut their price objective on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their target price on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets cut their price target on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. UBS Group reduced their price objective on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Citigroup dropped their target price on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Price Performance

Shares of SHW stock traded up $13.16 during mid-day trading on Friday, reaching $344.04. The company's stock had a trading volume of 4,073,916 shares, compared to its average volume of 1,916,019. The firm's 50-day moving average is $346.15 and its two-hundred day moving average is $348.05. The company has a market cap of $85.78 billion, a P/E ratio of 34.13, a PEG ratio of 3.25 and a beta of 1.16. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $3.70 EPS. On average, research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's payout ratio is currently 31.35%.

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.