Tobam Cuts Position in The Sherwin-Williams Company (NYSE:SHW)

Tobam decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 27.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 570 shares of the specialty chemicals company’s stock after selling 218 shares during the quarter. Tobam’s holdings in Sherwin-Williams were worth $170,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First United Bank & Trust purchased a new position in shares of Sherwin-Williams in the fourth quarter valued at $31,000. Tortoise Investment Management LLC raised its holdings in shares of Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Sherwin-Williams in the 1st quarter worth about $47,000. Rise Advisors LLC raised its holdings in shares of Sherwin-Williams by 1,154.5% in the 1st quarter. Rise Advisors LLC now owns 138 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 127 shares during the period. Finally, Rational Advisors LLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

SHW stock traded up $7.24 during trading on Friday, reaching $367.85. 979,907 shares of the company’s stock were exchanged, compared to its average volume of 1,608,238. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $368.18. The company’s fifty day moving average price is $330.10 and its 200-day moving average price is $322.34. The firm has a market cap of $93.27 billion, a PE ratio of 38.82, a P/E/G ratio of 2.79 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last announced 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 company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts expect that The Sherwin-Williams Company will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SHW shares. Morgan Stanley raised their target price on Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets lifted their price objective on Sherwin-Williams from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Evercore ISI lifted their target price on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, 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 research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $361.95.

Sherwin-Williams Company 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.