Raymond James Financial Services Advisors Inc. Sells 3,276 Shares of The Sherwin-Williams Company (NYSE:SHW)

Raymond James Financial Services Advisors Inc. lessened its stake in The Sherwin-Williams Company (NYSE:SHW) by 2.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,507 shares of the specialty chemicals company’s stock after selling 3,276 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sherwin-Williams were worth $36,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Means Investment CO. Inc. boosted its position in shares of Sherwin-Williams by 13.0% during the second quarter. Means Investment CO. Inc. now owns 886 shares of the specialty chemicals company’s stock worth $264,000 after buying an additional 102 shares during the period. Nisa Investment Advisors LLC boosted its position in Sherwin-Williams by 3.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 97,016 shares of the specialty chemicals company’s stock worth $28,952,000 after acquiring an additional 3,024 shares during the last quarter. Nvest Financial LLC bought a new position in shares of Sherwin-Williams during the 2nd quarter worth approximately $569,000. MONECO Advisors LLC raised its holdings in shares of Sherwin-Williams by 18.8% in the second quarter. MONECO Advisors LLC now owns 816 shares of the specialty chemicals company’s stock valued at $243,000 after purchasing an additional 129 shares during the last quarter. Finally, Chapin Davis Inc. lifted its position in shares of Sherwin-Williams by 68.6% in the second quarter. Chapin Davis Inc. now owns 1,349 shares of the specialty chemicals company’s stock worth $402,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Analysts Set New Price Targets

SHW has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Citigroup dropped their price objective on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Mizuho decreased their target price on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Loop Capital decreased their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their target price on shares of Sherwin-Williams from $370.00 to $418.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $355.00.

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams stock opened at $355.96 on Tuesday. The stock has a market cap of $90.25 billion, a price-to-earnings ratio of 37.95, a P/E/G ratio of 2.77 and a beta of 1.16. The Sherwin-Williams Company has a twelve month low of $232.06 and a twelve month high of $357.64. The company’s fifty day moving average is $321.77 and its 200 day moving average is $319.99. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.29 earnings per share. Sell-side analysts forecast that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.80%. Sherwin-Williams’s dividend 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.