Elevation Point Wealth Partners LLC Has $837,000 Stake in The Sherwin-Williams Company (NYSE:SHW)

Elevation Point Wealth Partners LLC decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 57.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,396 shares of the specialty chemicals company’s stock after selling 3,209 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Sherwin-Williams were worth $837,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Sherwin-Williams by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,836,648 shares of the specialty chemicals company’s stock worth $7,422,932,000 after buying an additional 138,170 shares during the period. FMR LLC grew its position in shares of Sherwin-Williams by 1.6% during the 4th quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company’s stock worth $2,239,715,000 after buying an additional 106,093 shares during the period. Geode Capital Management LLC grew its position in shares of Sherwin-Williams by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company’s stock worth $1,636,679,000 after buying an additional 96,571 shares during the period. Alliancebernstein L.P. grew its position in shares of Sherwin-Williams by 2.0% during the 4th quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company’s stock worth $1,467,138,000 after buying an additional 86,268 shares during the period. Finally, Norges Bank acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $1,359,747,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SHW. Mizuho set a $395.00 price objective on shares of Sherwin-Williams in a report on Tuesday, April 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Barclays cut their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. UBS Group cut their price target 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. Finally, Royal Bank of Canada lifted their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $397.67.

Sherwin-Williams Trading Down 5.7%

Shares of Sherwin-Williams stock opened at $335.93 on Friday. The company has a market capitalization of $84.18 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.98 and a beta of 1.21. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02. The Sherwin-Williams Company has a 12-month low of $292.27 and a 12-month high of $400.42. The firm’s 50-day moving average price is $348.16 and its two-hundred day moving average price is $351.64.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.02. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.42 billion. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.17 earnings per share. On average, analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.94%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.87%.

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.