The Sherwin-Williams Company (NYSE:SHW) Position Lowered by Morse Asset Management Inc

Morse Asset Management Inc reduced its position in The Sherwin-Williams Company (NYSE:SHW) by 0.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 7,112 shares of the specialty chemicals company’s stock after selling 36 shares during the period. Morse Asset Management Inc’s holdings in Sherwin-Williams were worth $2,470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHW. Vanguard Group Inc. raised its position in shares of Sherwin-Williams by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after acquiring an additional 184,979 shares in the last quarter. Capital World Investors lifted its position in shares of Sherwin-Williams by 38.9% in 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 buying an additional 1,075,351 shares during the last quarter. Norges Bank bought a new stake in shares of Sherwin-Williams during the 4th quarter valued at about $1,176,356,000. Clearbridge Investments LLC raised its stake in Sherwin-Williams by 4.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock worth $866,862,000 after acquiring an additional 116,647 shares during the period. Finally, Capital Research Global Investors lifted its holdings 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 worth $791,008,000 after acquiring an additional 56,161 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Upgrades and Downgrades

SHW has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. BMO Capital Markets raised their target price on Sherwin-Williams from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI upped their price target on shares of Sherwin-Williams from $360.00 to $365.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on Sherwin-Williams from $370.00 to $418.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned 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 company has an average rating of “Moderate Buy” and an average target price of $355.00.

Sherwin-Williams Trading Up 1.9 %

Shares of NYSE:SHW traded up $6.48 during midday trading on Friday, reaching $349.22. The company had a trading volume of 1,929,018 shares, compared to its average volume of 1,811,514. The company has a fifty day simple moving average of $307.26 and a two-hundred day simple moving average of $314.97. The firm has a market cap of $88.54 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $351.99. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.46 and a current ratio of 0.81.

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. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the company posted $3.29 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts predict that The Sherwin-Williams Company will post 11.44 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

Sherwin-Williams 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.