1,029 Shares in The Sherwin-Williams Company (NYSE:SHW) Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 1,029 shares of the specialty chemicals company’s stock, valued at approximately $359,000.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Sherwin-Williams by 73.6% in the 4th quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock valued at $525,000 after acquiring an additional 655 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Sherwin-Williams in the 4th quarter worth approximately $169,000. Golden State Wealth Management LLC purchased a new position in Sherwin-Williams in the 4th quarter worth approximately $47,000. Apollon Wealth Management LLC lifted its stake in Sherwin-Williams by 19.6% in the 4th quarter. Apollon Wealth Management LLC now owns 4,476 shares of the specialty chemicals company’s stock worth $1,522,000 after purchasing an additional 732 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in Sherwin-Williams by 11.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,067 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $360.77 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The stock has a market capitalization of $90.41 billion, a P/E ratio of 34.20, a PEG ratio of 2.98 and a beta of 1.21. The company has a 50 day moving average price of $346.54 and a 200 day moving average price of $352.61. The Sherwin-Williams Company has a fifty-two week low of $291.77 and a fifty-two week high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly 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. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter last year, the company posted $2.17 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 annualized dividend and a yield of 0.88%. Sherwin-Williams’s dividend payout ratio is presently 29.87%.

Wall Street Analyst Weigh In

SHW has been the topic of a number of research reports. Jefferies Financial Group reissued a “hold” rating and issued a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. UBS Group decreased their target price on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company raised shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $350.00 to $420.00 in a research note on Wednesday, April 30th. Mizuho set a $395.00 price target on shares of Sherwin-Williams in a report on Tuesday, April 15th. 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 report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $397.00.

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.