Sitrin Capital Management LLC Grows Stake in The Sherwin-Williams Company (NYSE:SHW)

Sitrin Capital Management LLC increased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 15,218 shares of the specialty chemicals company’s stock after acquiring an additional 1,322 shares during the quarter. Sherwin-Williams makes up 2.4% of Sitrin Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Sitrin Capital Management LLC’s holdings in Sherwin-Williams were worth $4,542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Peak Financial Advisors LLC boosted its stake in Sherwin-Williams by 2.9% during the second quarter. Peak Financial Advisors LLC now owns 8,677 shares of the specialty chemicals company’s stock valued at $2,589,000 after buying an additional 242 shares during the last quarter. JGP Wealth Management LLC boosted its position in shares of Sherwin-Williams by 4.0% during the 2nd quarter. JGP Wealth Management LLC now owns 3,063 shares of the specialty chemicals company’s stock valued at $914,000 after acquiring an additional 117 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Sherwin-Williams by 15.6% in the second quarter. Optimum Investment Advisors now owns 2,970 shares of the specialty chemicals company’s stock valued at $886,000 after purchasing an additional 400 shares in the last quarter. QRG Capital Management Inc. increased its position in Sherwin-Williams by 2.7% in the second quarter. QRG Capital Management Inc. now owns 14,292 shares of the specialty chemicals company’s stock worth $4,265,000 after purchasing an additional 382 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in Sherwin-Williams by 7.0% during the second quarter. Capital Investment Advisors LLC now owns 731 shares of the specialty chemicals company’s stock valued at $218,000 after purchasing an additional 48 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Trading Up 0.9 %

NYSE:SHW traded up $2.93 during midday trading on Friday, hitting $345.64. The stock had a trading volume of 1,763,139 shares, compared to its average volume of 1,627,193. The stock has a 50-day moving average of $315.65 and a 200 day moving average of $317.93. The company has a market capitalization of $87.64 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.71 and a beta of 1.16. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $356.69. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the company earned $3.29 EPS. The business’s revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Evercore ISI boosted their price objective on Sherwin-Williams from $360.00 to $365.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their target price on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price target on Sherwin-Williams from $370.00 to $418.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average target price 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.