Golden State Equity Partners Trims Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Golden State Equity Partners trimmed its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 60.7% in the first quarter, Holdings Channel reports. The fund owned 912 shares of the specialty chemicals company’s stock after selling 1,409 shares during the period. Golden State Equity Partners’ holdings in Sherwin-Williams were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Voleon Capital Management LP acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth $2,011,000. Kingswood Wealth Advisors LLC increased its stake in Sherwin-Williams by 25.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company’s stock valued at $352,000 after buying an additional 201 shares during the period. Sowell Financial Services LLC purchased a new position in Sherwin-Williams during the 1st quarter worth $306,000. Wealthcare Advisory Partners LLC raised its position in Sherwin-Williams by 18.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company’s stock worth $308,000 after buying an additional 137 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in shares of Sherwin-Williams by 2.7% in the 4th quarter. Horizon Investments LLC now owns 6,031 shares of the specialty chemicals company’s stock worth $2,050,000 after acquiring an additional 161 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Down 0.4%

SHW opened at $342.15 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The company has a market cap of $85.74 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 3.09 and a beta of 1.21. The Sherwin-Williams Company has a one year low of $292.33 and a one year high of $400.42. The business’s fifty day moving average is $348.96 and its two-hundred day moving average is $348.63.

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. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 EPS. Analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were given a $0.79 dividend. The ex-dividend date was Friday, May 16th. This represents a $3.16 annualized dividend and a dividend yield of 0.92%. Sherwin-Williams’s dividend payout ratio is presently 29.87%.

Wall Street Analyst Weigh In

SHW has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Morgan Stanley lowered their price objective on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Bank of America boosted their target price on Sherwin-Williams from $289.00 to $296.00 and gave the stock an “underperform” rating in a research report on Monday. Wells Fargo & Company raised Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $350.00 to $420.00 in a report on Wednesday, April 30th. Finally, Citigroup downgraded Sherwin-Williams from a “buy” rating to a “neutral” rating and decreased their price target for the company from $405.00 to $385.00 in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $391.31.

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.