Northeast Investment Management Sells 700 Shares of The Sherwin-Williams Company (NYSE:SHW)

Northeast Investment Management decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.9% during the second quarter, HoldingsChannel reports. The fund owned 35,783 shares of the specialty chemicals company’s stock after selling 700 shares during the quarter. Northeast Investment Management’s holdings in Sherwin-Williams were worth $10,679,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Atria Wealth Solutions Inc. lifted its position in shares of Sherwin-Williams by 7.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 8,150 shares of the specialty chemicals company’s stock valued at $2,542,000 after buying an additional 566 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at about $187,000. Citizens Financial Group Inc. RI increased its holdings in shares of Sherwin-Williams by 6.6% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,007 shares of the specialty chemicals company’s stock valued at $1,562,000 after acquiring an additional 310 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Sherwin-Williams by 21.0% during the fourth quarter. Headlands Technologies LLC now owns 640 shares of the specialty chemicals company’s stock valued at $200,000 after acquiring an additional 111 shares in the last quarter. Finally, Valmark Advisers Inc. acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at about $209,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

SHW stock traded up $1.72 during midday trading on Wednesday, reaching $361.70. The stock had a trading volume of 1,149,133 shares, compared to its average volume of 1,616,604. The company’s fifty day simple moving average is $328.87 and its 200 day simple moving average is $322.07. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The company has a market cap of $91.71 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $363.13.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 EPS. As a group, sell-side analysts predict that The Sherwin-Williams Company will post 11.44 earnings per share 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. Shareholders of record on Friday, August 16th will be issued a $0.715 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. Sherwin-Williams’s payout ratio is currently 30.49%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Evercore ISI upped their price objective on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. UBS Group cut their price objective on shares of Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. KeyCorp upped their price objective on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets increased their price target on shares of Sherwin-Williams from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $358.16.

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.