Freedom Day Solutions LLC Cuts Holdings in The Sherwin-Williams Company (NYSE:SHW)

Freedom Day Solutions LLC cut its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 9,292 shares of the specialty chemicals company’s stock after selling 209 shares during the quarter. Sherwin-Williams makes up approximately 1.0% of Freedom Day Solutions LLC’s holdings, making the stock its 21st largest holding. Freedom Day Solutions LLC’s holdings in Sherwin-Williams were worth $3,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perkins Coie Trust Co bought a new stake in Sherwin-Williams during the 1st quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $27,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $28,000. Synergy Investment Management LLC increased its holdings in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 70 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Sherwin-Williams during the 1st quarter worth approximately $30,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Up 0.1%

Shares of Sherwin-Williams stock opened at $351.80 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 company has a 50-day moving average of $351.40 and a 200 day moving average of $348.01. The firm has a market cap of $88.16 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 3.16 and a beta of 1.18. The Sherwin-Williams Company has a 1 year low of $306.63 and a 1 year high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.02. The company had revenue of $5.31 billion during 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%. Sherwin-Williams’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $2.17 EPS. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams’s payout ratio is 29.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHW. Royal Bank Of Canada upped their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Citigroup cut shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and cut their price objective for the company from $405.00 to $385.00 in a research note on Friday, June 13th. Bank of America increased their price target on shares of Sherwin-Williams from $289.00 to $296.00 and gave the company an “underperform” rating in a research report on Monday, June 23rd. Mizuho set a $395.00 price target on shares of Sherwin-Williams in a research report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $391.94.

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.