Sumitomo Mitsui Trust Holdings Inc. Sells 3,829 Shares of The Sherwin-Williams Company (NYSE:SHW)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 601,977 shares of the specialty chemicals company’s stock after selling 3,829 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Sherwin-Williams were worth $209,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SHW. First United Bank & Trust purchased a new stake in Sherwin-Williams in the 4th quarter worth approximately $31,000. Tortoise Investment Management LLC lifted its holdings in Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 65 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in Sherwin-Williams during the fourth quarter valued at $35,000. Wetzel Investment Advisors Inc. purchased a new position in Sherwin-Williams during the fourth quarter valued at $36,000. Finally, Northwest Investment Counselors LLC purchased a new position in Sherwin-Williams during the first quarter valued at $47,000. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Stock Up 0.8 %

NYSE SHW opened at $297.10 on Thursday. The stock has a 50 day moving average price of $304.66 and a 200-day moving average price of $313.32. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $348.37. The company has a market capitalization of $75.33 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.37 and a beta of 1.16. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.46 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.96%. Sherwin-Williams’s payout ratio is presently 30.49%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHW. KeyCorp upgraded Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price objective for the company in a research note on Thursday, April 25th. BMO Capital Markets lowered their price objective on Sherwin-Williams from $377.00 to $360.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Evercore ISI lifted their price objective on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Mizuho lowered their price target on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $343.41.

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.