Penobscot Investment Management Company Inc. Trims Holdings in The Sherwin-Williams Company (NYSE:SHW)

Penobscot Investment Management Company Inc. decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 0.9% in the 1st quarter, Holdings Channel reports. The firm owned 46,096 shares of the specialty chemicals company’s stock after selling 414 shares during the period. Sherwin-Williams accounts for about 1.5% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 15th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Sherwin-Williams were worth $16,096,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Perkins Coie Trust Co purchased a new stake in Sherwin-Williams in the 1st quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in Sherwin-Williams during the 4th quarter worth $27,000. Lee Danner & Bass Inc. purchased a new position in Sherwin-Williams during the 4th quarter worth $28,000. WR Wealth Planners LLC raised its position in Sherwin-Williams by 41.7% during the 4th quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 35 shares during the last quarter. Finally, HWG Holdings LP purchased a new position in Sherwin-Williams during the 1st quarter worth $46,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHW. UBS Group cut their price objective on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Jefferies Financial Group restated a “hold” rating and set a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Morgan Stanley cut their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company upgraded shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $350.00 to $420.00 in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada upped their price objective 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average price target of $391.31.

Sherwin-Williams Stock Performance

Shares of SHW opened at $343.70 on Thursday. The company has a 50-day simple moving average of $348.78 and a 200-day simple moving average of $348.87. The company has a quick ratio of 0.45, a current ratio of 0.77 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $86.13 billion, a PE ratio of 32.49, a P/E/G ratio of 3.11 and a beta of 1.21. The Sherwin-Williams Company has a 52-week low of $292.33 and a 52-week high of $400.42.

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

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a $0.79 dividend. The ex-dividend date 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 29.87%.

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.