Jessup Wealth Management Inc Sells 195 Shares of The Sherwin-Williams Company (NYSE:SHW)

Jessup Wealth Management Inc trimmed its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,428 shares of the specialty chemicals company’s stock after selling 195 shares during the quarter. Sherwin-Williams makes up 3.5% of Jessup Wealth Management Inc’s portfolio, making the stock its 9th biggest position. Jessup Wealth Management Inc’s holdings in Sherwin-Williams were worth $8,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SHW. First United Bank & Trust bought a new stake in shares of Sherwin-Williams during the 4th quarter valued at about $31,000. Tortoise Investment Management LLC raised its position in shares of Sherwin-Williams by 158.5% during the 4th 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 during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $35,000. Wetzel Investment Advisors Inc. bought a new position in Sherwin-Williams during the 4th quarter worth $36,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Sherwin-Williams in the first quarter worth $47,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their price objective for the company from $312.00 to $402.00 in a report on Thursday, March 7th. BMO Capital Markets cut their target price on Sherwin-Williams from $377.00 to $360.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Finally, Wolfe Research began coverage on Sherwin-Williams in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $343.41.

Sherwin-Williams Stock Up 0.7 %

Shares of SHW traded up $2.20 during trading hours on Friday, reaching $299.20. The company’s stock had a trading volume of 424,353 shares, compared to its average volume of 1,566,251. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The firm has a market cap of $75.86 billion, a price-to-earnings ratio of 31.79, a P/E/G ratio of 2.39 and a beta of 1.17. The company has a 50 day moving average of $305.49 and a two-hundred day moving average of $313.37. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the business earned $2.04 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

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.