Prestige Wealth Management Group LLC decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 77.9% in the first quarter, Holdings Channel reports. The fund owned 971 shares of the specialty chemicals company’s stock after selling 3,426 shares during the period. Prestige Wealth Management Group LLC’s holdings in Sherwin-Williams were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of SHW. First Citizens Bank & Trust Co. acquired a new stake in shares of Sherwin-Williams in the first quarter valued at about $294,000. Alesco Advisors LLC An ESL Co lifted its position in shares of Sherwin-Williams by 110.7% during the 1st quarter. Alesco Advisors LLC An ESL Co now owns 2,528 shares of the specialty chemicals company’s stock worth $810,000 after purchasing an additional 1,328 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Sherwin-Williams by 44.9% during the 1st quarter. First Trust Advisors LP now owns 123,505 shares of the specialty chemicals company’s stock worth $39,589,000 after purchasing an additional 38,250 shares during the last quarter. ABN Amro Investment Solutions boosted its stake in Sherwin-Williams by 4.2% during the 1st quarter. ABN Amro Investment Solutions now owns 88,135 shares of the specialty chemicals company’s stock valued at $28,252,000 after purchasing an additional 3,586 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Sherwin-Williams by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 263,162 shares of the specialty chemicals company’s stock valued at $84,357,000 after purchasing an additional 6,091 shares during the period. 77.67% of the stock is currently owned by institutional investors.
Sherwin-Williams Stock Up 0.5%
SHW stock opened at $320.07 on Thursday. The Sherwin-Williams Company has a twelve month low of $289.86 and a twelve month high of $379.65. The company has a market cap of $78.94 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.47 and a beta of 1.10. The business’s 50-day simple moving average is $320.35 and its 200 day simple moving average is $332.44. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 2.10.
Sherwin-Williams Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 21st. Sherwin-Williams’s dividend payout ratio is presently 30.71%.
Wall Street Analysts Forecast Growth
SHW has been the topic of a number of research analyst reports. Weiss Ratings lowered Sherwin-Williams from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $405.00 price target (up from $391.00) on shares of Sherwin-Williams in a report on Wednesday, July 8th. Bank of America reduced their price objective on Sherwin-Williams from $370.00 to $365.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on shares of Sherwin-Williams from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sherwin-Williams from $385.00 to $365.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $373.92.
View Our Latest Stock Report on Sherwin-Williams
Sherwin-Williams Company Profile
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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