Prentice Wealth Management LLC Purchases New Stake in The Sherwin-Williams Company (NYSE:SHW)

Prentice Wealth Management LLC bought a new stake in The Sherwin-Williams Company (NYSE:SHW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 817 shares of the specialty chemicals company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc bought a new position in Sherwin-Williams during the fourth quarter valued at about $38,444,000. AIA Group Ltd grew its holdings in shares of Sherwin-Williams by 20.8% in the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock valued at $5,088,000 after buying an additional 2,810 shares during the period. Simplicity Solutions LLC lifted its stake in Sherwin-Williams by 182.2% in the 4th quarter. Simplicity Solutions LLC now owns 10,700 shares of the specialty chemicals company’s stock valued at $3,337,000 after purchasing an additional 6,909 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Sherwin-Williams by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock valued at $77,510,000 after purchasing an additional 13,984 shares during the last quarter. Finally, Waterloo Capital L.P. acquired a new stake in Sherwin-Williams in the 4th quarter valued at about $360,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded up $1.11 during mid-day trading on Wednesday, reaching $295.79. The company had a trading volume of 581,364 shares, compared to its average volume of 1,570,356. The company’s 50-day moving average price is $305.75 and its 200-day moving average price is $313.49. The firm has a market cap of $75.00 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.37 and a beta of 1.17. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data 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). The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 earnings per share. As a group, equities research analysts anticipate that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price objective on shares of Sherwin-Williams from $377.00 to $360.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Northcoast Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Tuesday, February 27th. Loop Capital reduced their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Mizuho dropped their price target on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their target price for the stock from $312.00 to $402.00 in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $343.41.

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.