Norris Perne & French LLP MI Increases Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Norris Perne & French LLP MI boosted its position in The Sherwin-Williams Company (NYSE:SHW) by 27.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,599 shares of the specialty chemicals company’s stock after buying an additional 18,494 shares during the quarter. Sherwin-Williams accounts for approximately 2.3% of Norris Perne & French LLP MI’s holdings, making the stock its 11th biggest holding. Norris Perne & French LLP MI’s holdings in Sherwin-Williams were worth $30,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHW. Vanguard Group Inc. raised its holdings in shares of Sherwin-Williams by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,836,648 shares of the specialty chemicals company’s stock worth $7,422,932,000 after purchasing an additional 138,170 shares during the period. FMR LLC raised its stake in Sherwin-Williams by 1.6% during the fourth quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company’s stock worth $2,239,715,000 after acquiring an additional 106,093 shares during the period. Geode Capital Management LLC lifted its holdings in Sherwin-Williams by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company’s stock worth $1,636,679,000 after acquiring an additional 96,571 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Sherwin-Williams by 2.0% in the fourth quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company’s stock worth $1,467,138,000 after acquiring an additional 86,268 shares during the last quarter. Finally, Norges Bank acquired a new position in Sherwin-Williams in the fourth quarter valued at approximately $1,359,747,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SHW shares. Wells Fargo & Company raised Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $350.00 to $420.00 in a report on Wednesday, April 30th. Mizuho set a $395.00 target price on shares of Sherwin-Williams in a research note on Tuesday, April 15th. Barclays decreased their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Royal Bank Of Canada raised their target price on Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, UBS Group decreased 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 report on Monday, April 7th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $397.67.

Sherwin-Williams Price Performance

Shares of SHW stock opened at $331.08 on Thursday. The Sherwin-Williams Company has a 52-week low of $292.27 and a 52-week high of $400.42. The stock has a market cap of $82.97 billion, a PE ratio of 31.29, a PEG ratio of 3.00 and a beta of 1.21. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The firm’s 50 day moving average price is $348.37 and its two-hundred day moving average price is $350.63.

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

Sherwin-Williams Announces Dividend

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 dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams’s payout ratio is presently 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.