The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,112 shares of the specialty chemicals company’s stock after selling 36 shares during the quarter. Morse Asset Management Inc’s holdings in Sherwin-Williams were worth $2,470,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at approximately $1,176,356,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Sherwin-Williams in the 4th quarter worth $432,737,000. Capital World Investors raised its holdings in shares of Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after acquiring an additional 1,075,351 shares during the period. International Assets Investment Management LLC boosted its position in shares of Sherwin-Williams by 2,853.9% during the 4th quarter. International Assets Investment Management LLC now owns 650,186 shares of the specialty chemicals company’s stock valued at $202,793,000 after acquiring an additional 628,175 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Sherwin-Williams by 8,986.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 534,121 shares of the specialty chemicals company’s stock worth $166,592,000 after purchasing an additional 528,243 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on SHW shares. Morgan Stanley boosted their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays increased their price objective on Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI increased their price target on Sherwin-Williams from $360.00 to $365.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Loop Capital reduced their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $355.00.

Sherwin-Williams Stock Up 1.9 %

Shares of NYSE SHW traded up $6.48 during midday trading on Friday, hitting $349.22. 1,929,018 shares of the company’s stock were exchanged, compared to its average volume of 1,811,514. The firm’s fifty day simple moving average is $307.26 and its 200-day simple moving average is $314.97. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.46. The company has a market cap of $88.54 billion, a PE ratio of 37.23, a P/E/G ratio of 2.75 and a beta of 1.16. The Sherwin-Williams Company has a twelve month low of $232.06 and a twelve month high of $351.99.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.19. The business had revenue of $6.27 billion during 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 75.58%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.29 EPS. Research analysts predict that The Sherwin-Williams Company will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

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.