Carlson Capital Management Trims Holdings in The Sherwin-Williams Company (NYSE:SHW)

Carlson Capital Management reduced its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 3.6% in the first quarter, HoldingsChannel reports. The fund owned 14,854 shares of the specialty chemicals company’s stock after selling 552 shares during the period. Sherwin-Williams accounts for 0.2% of Carlson Capital Management’s portfolio, making the stock its 22nd biggest holding. Carlson Capital Management’s holdings in Sherwin-Williams were worth $5,159,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First United Bank & Trust purchased a new position in shares of Sherwin-Williams in the 4th quarter worth about $31,000. Tortoise Investment Management LLC lifted its stake in shares of Sherwin-Williams by 158.5% in the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Sherwin-Williams during the fourth quarter valued at approximately $35,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Sherwin-Williams during the fourth quarter valued at approximately $36,000. Finally, Northwest Investment Counselors LLC purchased a new position in Sherwin-Williams in the 1st quarter worth approximately $47,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE SHW traded down $0.13 on Monday, reaching $301.13. 626,299 shares of the stock were exchanged, compared to its average volume of 1,556,295. The firm has a market capitalization of $76.35 billion, a PE ratio of 32.17, a PEG ratio of 2.42 and a beta of 1.17. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $348.37. The company’s 50-day simple moving average is $306.29 and its two-hundred day simple moving average is $313.39. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 EPS. Analysts expect that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were issued a $0.715 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.95%. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHW. Northcoast Research upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 target price on the stock in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Loop Capital lowered their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Wolfe Research began coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, KeyCorp upgraded shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price objective on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.