Summit Financial LLC Cuts Holdings in The Sherwin-Williams Company (NYSE:SHW)

Summit Financial LLC lowered its holdings in The Sherwin-Williams Company (NYSE:SHW) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 12,483 shares of the specialty chemicals company’s stock after selling 2,078 shares during the period. Summit Financial LLC’s holdings in Sherwin-Williams were worth $4,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new position in Sherwin-Williams during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at approximately $28,000. FSA Wealth Management LLC bought a new position in Sherwin-Williams during the third quarter valued at approximately $32,000. True Wealth Design LLC boosted its holdings in Sherwin-Williams by 1,000.0% in the third quarter. True Wealth Design LLC now owns 99 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 90 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Sherwin-Williams in the 4th quarter worth approximately $36,000. 77.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the transaction, the insider now directly owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHW. JPMorgan Chase & Co. raised their price target on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Citigroup reaffirmed a “buy” rating and set a $423.00 price target (up previously from $418.00) on shares of Sherwin-Williams in a research report on Wednesday, February 26th. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a report on Friday, January 31st. Morgan Stanley reduced their target price on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Berenberg Bank upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and lifted their price target for the stock from $321.00 to $420.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus target price of $401.13.

Sherwin-Williams Trading Up 2.8 %

SHW stock opened at $349.35 on Tuesday. The company has a market capitalization of $87.87 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.98 and a beta of 1.23. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42. The business has a 50 day simple moving average of $353.50 and a two-hundred day simple moving average of $363.63.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same quarter in the previous year, the business earned $1.81 earnings per share. Research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.72. This represents a $3.16 dividend on an annualized basis and a yield of 0.90%. Sherwin-Williams’s dividend payout ratio is presently 29.95%.

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.