Azimuth Capital Investment Management LLC Trims Stake in The Sherwin-Williams Company (NYSE:SHW)

Azimuth Capital Investment Management LLC lessened its holdings in The Sherwin-Williams Company (NYSE:SHWFree Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,525 shares of the specialty chemicals company’s stock after selling 476 shares during the period. Sherwin-Williams makes up 0.9% of Azimuth Capital Investment Management LLC’s investment portfolio, making the stock its 28th largest position. Azimuth Capital Investment Management LLC’s holdings in Sherwin-Williams were worth $19,813,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. First United Bank & Trust purchased a new position in shares of Sherwin-Williams during the fourth quarter worth $31,000. Lee Financial Co purchased a new stake in Sherwin-Williams during the third quarter worth about $32,000. Tortoise Investment Management LLC lifted its position in shares of Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Sherwin-Williams in the fourth quarter valued at approximately $35,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Sherwin-Williams in the fourth quarter valued at approximately $36,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded down $12.11 on Friday, reaching $291.95. The company’s stock had a trading volume of 3,302,682 shares, compared to its average volume of 1,730,946. The Sherwin-Williams Company has a 52-week low of $232.06 and a 52-week high of $348.37. The stock has a market capitalization of $74.02 billion, a P/E ratio of 31.12, a PEG ratio of 2.44 and a beta of 1.17. The stock’s 50-day moving average is $312.33 and its two-hundred day moving average is $311.41. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46.

Sherwin-Williams (NYSE:SHWGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the company earned $2.04 EPS. Sherwin-Williams’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 11.43 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a dividend of $0.715 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.98%. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Evercore ISI increased their price target on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. UBS Group raised Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their target price for the company from $312.00 to $402.00 in a report on Thursday, March 7th. Northcoast Research raised Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price target for the company in a report on Tuesday, February 27th. Finally, Mizuho dropped their price objective on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $344.41.

View Our Latest Report on SHW

Sherwin-Williams Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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