HBK Sorce Advisory LLC Decreases Position in The Sherwin-Williams Company (NYSE:SHW)

HBK Sorce Advisory LLC reduced its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,405 shares of the specialty chemicals company’s stock after selling 317 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Sherwin-Williams were worth $1,189,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SHW. Norges Bank purchased a new stake in shares of Sherwin-Williams during the fourth quarter valued at approximately $1,359,747,000. GAMMA Investing LLC grew its holdings in Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company’s stock valued at $571,381,000 after purchasing an additional 1,632,391 shares in the last quarter. Capital Research Global Investors grew its holdings in Sherwin-Williams by 47.1% during the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company’s stock valued at $1,019,329,000 after purchasing an additional 960,724 shares in the last quarter. Barclays PLC increased its stake in Sherwin-Williams by 54.2% during the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company’s stock worth $704,855,000 after buying an additional 728,798 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Sherwin-Williams in the 4th quarter worth $230,829,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Down 0.6%

SHW stock opened at $343.70 on Thursday. The firm has a market cap of $86.13 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 3.11 and a beta of 1.21. The Sherwin-Williams Company has a 1-year low of $292.33 and a 1-year high of $400.42. The firm has a fifty day moving average price of $348.78 and a two-hundred day moving average price of $348.87. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.77 and a quick ratio of 0.45.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.23 by $0.02. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a return on equity of 71.86% and a net margin of 11.63%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.17 earnings per share. Research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a yield of 0.92%. Sherwin-Williams’s payout ratio is currently 29.87%.

Analysts Set New Price Targets

SHW has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company raised Sherwin-Williams from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $350.00 to $420.00 in a report on Wednesday, April 30th. Mizuho set a $395.00 price objective on Sherwin-Williams in a report on Tuesday, April 15th. Jefferies Financial Group reiterated a “hold” rating and set a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Finally, Royal Bank Of Canada raised their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $391.31.

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.