InterOcean Capital Group LLC Reduces Stock Position in The Sherwin-Williams Company (NYSE:SHW)

InterOcean Capital Group LLC reduced its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 870 shares of the specialty chemicals company’s stock after selling 216 shares during the quarter. InterOcean Capital Group LLC’s holdings in Sherwin-Williams were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SHW. Vanguard Group Inc. raised its stake in Sherwin-Williams by 0.9% during the first quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after buying an additional 184,979 shares in the last quarter. Capital World Investors raised its holdings in shares of Sherwin-Williams by 38.9% during the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares during the period. Norges Bank bought a new position in shares of Sherwin-Williams in the 4th quarter worth about $1,176,356,000. Clearbridge Investments LLC grew its position in shares of Sherwin-Williams by 4.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock valued at $866,862,000 after buying an additional 116,647 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Sherwin-Williams by 2.3% in the fourth quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock valued at $791,008,000 after acquiring an additional 56,161 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded up $10.93 during trading on Thursday, reaching $342.95. The stock had a trading volume of 2,536,089 shares, compared to its average volume of 1,619,860. The stock has a fifty day simple moving average of $305.94 and a two-hundred day simple moving average of $314.19. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The Sherwin-Williams Company has a 52 week low of $232.06 and a 52 week high of $348.37. The firm has a market capitalization of $86.95 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 2.93 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 76.02%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 EPS. As a group, analysts anticipate that The Sherwin-Williams Company will post 11.23 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.83%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group dropped their price objective on Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. StockNews.com cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on shares of Sherwin-Williams from $370.00 to $418.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup reduced their target price on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.00.

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.