Saybrook Capital NC Grows Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Saybrook Capital NC grew its holdings in The Sherwin-Williams Company (NYSE:SHW) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,089 shares of the specialty chemicals company’s stock after buying an additional 346 shares during the quarter. Sherwin-Williams makes up 5.5% of Saybrook Capital NC’s portfolio, making the stock its 8th largest position. Saybrook Capital NC’s holdings in Sherwin-Williams were worth $19,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHW. Park Square Financial Group LLC acquired a new stake in Sherwin-Williams in the 4th quarter valued at about $27,000. Perkins Coie Trust Co acquired a new stake in shares of Sherwin-Williams in the first quarter valued at approximately $27,000. Lee Danner & Bass Inc. acquired a new stake in shares of Sherwin-Williams in the 4th quarter valued at $28,000. WR Wealth Planners LLC lifted its stake 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 valued at $40,000 after acquiring an additional 35 shares during the period. Finally, HWG Holdings LP acquired a new position in shares of Sherwin-Williams during the first quarter valued at $46,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Trading Up 0.6%

Shares of NYSE:SHW opened at $345.80 on Wednesday. The Sherwin-Williams Company has a 52-week low of $292.27 and a 52-week high of $400.42. The company has a market capitalization of $86.66 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 3.12 and a beta of 1.21. The company has a 50-day simple moving average of $348.54 and a 200 day simple moving average of $348.90. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. Sherwin-Williams had a return on equity of 71.86% and a net margin of 11.63%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the firm posted $2.17 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current 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 paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams’s dividend payout ratio is presently 29.87%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America boosted their price objective on Sherwin-Williams from $289.00 to $296.00 and gave the stock an “underperform” rating in a report on Monday. Mizuho set a $395.00 target price on shares of Sherwin-Williams in a report on Tuesday, April 15th. Wells Fargo & Company raised shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $350.00 to $420.00 in a report on Wednesday, April 30th. Jefferies Financial Group restated a “hold” rating and issued a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Finally, Citigroup lowered Sherwin-Williams from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $405.00 to $385.00 in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $391.31.

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.