New Century Financial Group LLC Grows Stake in The Sherwin-Williams Company (NYSE:SHW)

New Century Financial Group LLC lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 756 shares of the specialty chemicals company’s stock after buying an additional 68 shares during the quarter. New Century Financial Group LLC’s holdings in Sherwin-Williams were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. First Trust Direct Indexing L.P. lifted its stake in shares of Sherwin-Williams by 3.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,525 shares of the specialty chemicals company’s stock valued at $2,266,000 after purchasing an additional 225 shares during the period. Massachusetts Wealth Management lifted its position in Sherwin-Williams by 2.9% during the 1st quarter. Massachusetts Wealth Management now owns 3,575 shares of the specialty chemicals company’s stock valued at $1,242,000 after acquiring an additional 100 shares during the period. Norden Group LLC purchased a new position in Sherwin-Williams during the 1st quarter valued at about $5,015,000. Meadow Creek Wealth Advisors LLC bought a new stake in Sherwin-Williams during the first quarter worth about $249,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Sherwin-Williams by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,549 shares of the specialty chemicals company’s stock worth $8,873,000 after purchasing an additional 115 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHW has been the subject of several recent analyst reports. StockNews.com cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Loop Capital reduced their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Robert W. Baird upped their price target on Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada reduced their price objective on Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Mizuho lowered their target price on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $343.41.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $297.22 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46. The business has a fifty day moving average of $304.38 and a 200 day moving average of $313.10. The firm has a market capitalization of $75.36 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. The Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data 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). The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $2.04 EPS. As a group, research analysts expect that The Sherwin-Williams Company will post 11.43 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Sherwin-Williams 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.