Fortitude Family Office LLC Sells 41 Shares of The Sherwin-Williams Company (NYSE:SHW)

Fortitude Family Office LLC lessened its holdings in The Sherwin-Williams Company (NYSE:SHW) by 18.2% in the first quarter, Holdings Channel reports. The institutional investor owned 184 shares of the specialty chemicals company’s stock after selling 41 shares during the period. Fortitude Family Office LLC’s holdings in Sherwin-Williams were worth $64,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Davis Investment Partners LLC acquired a new position in shares of Sherwin-Williams in the 1st quarter worth approximately $205,000. Fifth Third Bancorp grew its holdings in Sherwin-Williams by 5.6% during the 1st quarter. Fifth Third Bancorp now owns 346,656 shares of the specialty chemicals company’s stock worth $121,049,000 after acquiring an additional 18,466 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Sherwin-Williams by 35.9% in the 1st quarter. Simon Quick Advisors LLC now owns 1,819 shares of the specialty chemicals company’s stock valued at $635,000 after purchasing an additional 481 shares during the period. Zhang Financial LLC raised its holdings in Sherwin-Williams by 2.2% during the first quarter. Zhang Financial LLC now owns 1,696 shares of the specialty chemicals company’s stock worth $592,000 after buying an additional 36 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its stake in shares of Sherwin-Williams by 76.1% in the first quarter. McKinley Carter Wealth Services Inc. now owns 1,127 shares of the specialty chemicals company’s stock valued at $394,000 after buying an additional 487 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SHW shares. Barclays lowered their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Morgan Stanley decreased their price target on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Mizuho set a $395.00 price objective on Sherwin-Williams in a research note on Tuesday, April 15th. Wells Fargo & Company upgraded shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $350.00 to $420.00 in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada increased their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $397.00.

Sherwin-Williams Trading Down 1.0%

Shares of Sherwin-Williams stock opened at $357.14 on Thursday. The stock has a market capitalization of $89.50 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.98 and a beta of 1.21. The Sherwin-Williams Company has a 52-week low of $292.27 and a 52-week high of $400.42. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The stock’s 50-day simple moving average is $347.05 and its 200 day simple moving average is $352.64.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm earned $2.17 EPS. Sherwin-Williams’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders 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 0.88%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams’s payout ratio is 29.87%.

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.