Sunbelt Securities Inc. Sells 189 Shares of The Sherwin-Williams Company (NYSE:SHW)

Sunbelt Securities Inc. cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 5.3% during the first quarter, HoldingsChannel reports. The firm owned 3,350 shares of the specialty chemicals company’s stock after selling 189 shares during the period. Sunbelt Securities Inc.’s holdings in Sherwin-Williams were worth $1,170,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new position in Sherwin-Williams in the 4th quarter worth approximately $27,000. Perkins Coie Trust Co acquired a new stake in shares of Sherwin-Williams in the first quarter worth $27,000. Lee Danner & Bass Inc. bought a new position in Sherwin-Williams during the fourth quarter worth $28,000. WR Wealth Planners LLC raised its stake in Sherwin-Williams by 41.7% during the 4th quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 35 shares during the last quarter. Finally, HWG Holdings LP bought a new stake in Sherwin-Williams in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays dropped 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 report on Tuesday, April 1st. Bank of America boosted their price target on Sherwin-Williams from $289.00 to $296.00 and gave the company an “underperform” rating in a research note on Monday, June 23rd. Morgan Stanley reduced their price objective on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group restated a “hold” rating and set a $380.00 price objective (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Finally, Mizuho set a $395.00 target price on Sherwin-Williams in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $391.31.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW opened at $346.03 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.77 and a quick ratio of 0.45. The business’s fifty day moving average price is $349.22 and its two-hundred day moving average price is $348.46. The Sherwin-Williams Company has a fifty-two week low of $292.33 and a fifty-two week high of $400.42. The stock has a market capitalization of $86.72 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 3.07 and a beta of 1.21.

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

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 annualized dividend and a yield of 0.91%. Sherwin-Williams’s dividend 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.