Evanson Asset Management LLC Makes New Investment in The Sherwin-Williams Company (NYSE:SHW)

Evanson Asset Management LLC bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 671 shares of the specialty chemicals company’s stock, valued at approximately $234,000.

A number of other hedge funds have also modified their holdings of SHW. Midwest Capital Advisors LLC purchased a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $26,000. Park Square Financial Group LLC purchased a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $27,000. Perkins Coie Trust Co purchased a new position in shares of Sherwin-Williams during the first quarter worth approximately $27,000. Lee Danner & Bass Inc. purchased a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $28,000. Finally, WR Wealth Planners LLC grew its position in shares of Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 35 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHW. UBS Group lowered 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 report on Monday, April 7th. Citigroup lowered shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $405.00 to $385.00 in a research report on Friday, June 13th. Barclays lowered their price objective on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley lowered their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Mizuho set a $395.00 price objective on shares of Sherwin-Williams in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target of $397.67.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $332.89 on Friday. The Sherwin-Williams Company has a 52 week low of $292.27 and a 52 week high of $400.42. The company has a quick ratio of 0.45, a current ratio of 0.77 and a debt-to-equity ratio of 1.90. The firm’s 50-day simple moving average is $348.31 and its 200 day simple moving average is $349.76. The firm has a market capitalization of $83.42 billion, a PE ratio of 31.46, a P/E/G ratio of 3.01 and a beta of 1.21.

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

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were paid a $0.79 dividend. 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 29.87%.

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.