PNC Financial Services Group Inc. Raises Position in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• PNC Financial Services Group Inc. increased its stake in Sherwin-Williams by 3.8% in Q1, owning approximately 0.11% of the company valued at $93 million.
• Sherwin-Williams reported an EPS of $3.38 for the latest quarter, which was below analysts' expectations of $3.76, despite a revenue of $6.31 billion.
• The company declared a quarterly dividend of $0.79 per share, with a dividend yield of 0.9%, reflecting a payout ratio of 31.35%.

PNC Financial Services Group Inc. grew its position 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 filing with the Securities & Exchange Commission. The institutional investor owned 266,596 shares of the specialty chemicals company's stock after buying an additional 9,859 shares during the quarter. PNC Financial Services Group Inc. owned 0.11% of Sherwin-Williams worth $93,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of SHW. Perkins Coie Trust Co bought a new stake in Sherwin-Williams during the 1st quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in Sherwin-Williams during the 4th quarter valued at $27,000. Synergy Investment Management LLC raised its holdings in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in Sherwin-Williams during the 1st quarter valued at $30,000. Finally, HWG Holdings LP bought a new stake in Sherwin-Williams during the 1st quarter valued at $46,000. Institutional investors own 77.67% of the company's stock.

Sherwin-Williams Trading Down 0.0%

SHW stock traded down $0.06 during trading on Thursday, reaching $350.68. The company had a trading volume of 157,340 shares, compared to its average volume of 1,766,718. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $400.42. The company has a market cap of $87.43 billion, a P/E ratio of 34.76, a PEG ratio of 3.33 and a beta of 1.16. The business has a 50 day moving average of $345.83 and a 200 day moving average of $348.05. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the business posted $3.70 EPS. Sherwin-Williams's revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side 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 will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.79 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is currently 31.35%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Loop Capital decreased their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Mizuho decreased their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets decreased their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley decreased their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup cut their target price on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Sherwin-Williams presently has an average rating of "Moderate Buy" and an average target price of $383.33.

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.