The Sherwin-Williams Company $SHW Shares Sold by Evercore Wealth Management LLC

Key Points

• Evercore Wealth Management cut its Sherwin-Williams position by 3.4% in the first quarter, selling 3,336 shares and retaining 95,482 shares valued at approximately $30.6 million. Institutional investors collectively own 77.67% of SHW.
• Analyst sentiment remains positive but mixed: UBS downgraded the stock to neutral and lowered its target to $330, while RBC raised its target to $405. Overall, analysts maintain a “Moderate Buy” rating with an average price target of $373.92.
• Sherwin-Williams beat quarterly expectations, reporting $2.35 in EPS and $5.67 billion in revenue, with revenue up 6.9% year over year. The company also declared a quarterly dividend of $0.80 per share, equivalent to a 1.0% annualized yield.

Evercore Wealth Management LLC reduced its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,482 shares of the specialty chemicals company's stock after selling 3,336 shares during the quarter. Evercore Wealth Management LLC's holdings in Sherwin-Williams were worth $30,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHW. Maverick Capital Ltd. raised its position in shares of Sherwin-Williams by 37.8% during the 1st quarter. Maverick Capital Ltd. now owns 391,839 shares of the specialty chemicals company's stock valued at $125,604,000 after acquiring an additional 107,522 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Sherwin-Williams by 29.2% during the first quarter. Quantinno Capital Management LP now owns 281,618 shares of the specialty chemicals company's stock worth $90,273,000 after purchasing an additional 63,606 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Sherwin-Williams by 4.1% in the first quarter. Lazard Asset Management LLC now owns 76,603 shares of the specialty chemicals company's stock worth $24,555,000 after purchasing an additional 3,034 shares during the period. ABS Direct Equity Fund LLC acquired a new position in Sherwin-Williams in the first quarter worth $286,000. Finally, Gateway Wealth Partners LLC bought a new stake in Sherwin-Williams during the first quarter valued at $724,000. Institutional investors and hedge funds own 77.67% of the company's stock.

Analyst Ratings Changes

SHW has been the topic of a number of research reports. UBS Group cut shares of Sherwin-Williams from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $385.00 to $330.00 in a report on Tuesday, June 2nd. Weiss Ratings lowered shares of Sherwin-Williams from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 17th. Wells Fargo & Company lowered their price objective on shares of Sherwin-Williams from $365.00 to $350.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 29th. Royal Bank Of Canada reiterated an "outperform" rating and set a $405.00 price objective (up from $391.00) on shares of Sherwin-Williams in a research note on Wednesday, July 8th. Finally, Berenberg Bank set a $380.00 target price on shares of Sherwin-Williams in a report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $373.92.

Sherwin-Williams Price Performance

Shares of SHW opened at $327.27 on Tuesday. The Sherwin-Williams Company has a 12 month low of $289.86 and a 12 month high of $379.65. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.86 and a quick ratio of 0.53. The stock has a fifty day moving average price of $321.21 and a 200 day moving average price of $332.13. The company has a market cap of $80.72 billion, a P/E ratio of 31.41, a PEG ratio of 2.47 and a beta of 1.10.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, April 28th. The specialty chemicals company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.08. Sherwin-Williams had a return on equity of 64.55% and a net margin of 10.86%.The company had revenue of $5.67 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same period last year, the business posted $2.25 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts forecast that The Sherwin-Williams Company will post 11.78 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.80 per share. The ex-dividend date is Friday, August 21st. This represents a $3.20 annualized dividend and a dividend yield of 1.0%. Sherwin-Williams's dividend payout ratio is currently 30.71%.

Sherwin-Williams Profile

Sherwin-Williams NYSE: SHW is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.