Park Avenue Securities LLC Raises Stake in The Sherwin-Williams Company (NYSE:SHW)

Park Avenue Securities LLC boosted its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 11.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,331 shares of the specialty chemicals company’s stock after purchasing an additional 449 shares during the period. Park Avenue Securities LLC’s holdings in Sherwin-Williams were worth $1,504,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SHW. First United Bank & Trust purchased a new position in Sherwin-Williams during the 4th quarter worth $31,000. Tortoise Investment Management LLC lifted its stake in shares of 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 acquiring an additional 65 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Sherwin-Williams in the 4th quarter worth $35,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Sherwin-Williams in the 4th quarter worth $36,000. Finally, Tompkins Financial Corp lifted its stake in shares of Sherwin-Williams by 1,533.3% in the 3rd quarter. Tompkins Financial Corp now owns 147 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 138 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SHW. Citigroup reduced their target price on shares of Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Loop Capital reduced their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. KeyCorp upgraded shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 target price for the company in a research note on Thursday, April 25th. Mizuho reduced their target price on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Finally, UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and raised their target price for the stock from $312.00 to $402.00 in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $343.41.

Sherwin-Williams Stock Performance

Shares of SHW opened at $301.26 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The stock has a market cap of $76.38 billion, a P/E ratio of 32.12, a PEG ratio of 2.42 and a beta of 1.17. The company has a 50-day moving average of $306.29 and a two-hundred day moving average of $313.39. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $348.37.

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 analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 EPS. As a group, research analysts predict that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were issued a dividend of $0.715 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

About Sherwin-Williams

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.