Handelsinvest Investeringsforvaltning Buys New Shares in The Sherwin-Williams Company (NYSE:SHW)

Handelsinvest Investeringsforvaltning purchased a new stake in The Sherwin-Williams Company (NYSE:SHW) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,879 shares of the specialty chemicals company’s stock, valued at approximately $1,000,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHW. First United Bank & Trust bought a new stake in shares of Sherwin-Williams during the fourth quarter worth about $31,000. Tortoise Investment Management LLC grew its position in 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 purchasing an additional 65 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Sherwin-Williams in the 4th quarter worth about $35,000. Wetzel Investment Advisors Inc. bought a new stake in Sherwin-Williams in the 4th quarter worth about $36,000. Finally, Tompkins Financial Corp grew its position in 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 purchasing an additional 138 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho reduced their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. JPMorgan Chase & Co. dropped their target price 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. UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and boosted their target price for the company from $312.00 to $402.00 in a research note on Thursday, March 7th. Evercore ISI boosted their target price on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Finally, Robert W. Baird boosted their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One equities 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’s stock. According to MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target of $343.41.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $294.95 on Wednesday. The firm’s fifty day moving average price is $304.82 and its 200-day moving average price is $313.43. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.46 and a current ratio of 0.78. The stock has a market cap of $74.78 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.40 and a beta of 1.16. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. Sherwin-Williams’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. On average, equities research analysts expect that The Sherwin-Williams Company will post 11.43 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, May 16th. Sherwin-Williams’s payout ratio is 30.49%.

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.