Palumbo Wealth Management LLC Purchases 124 Shares of The Sherwin-Williams Company (NYSE:SHW)

Palumbo Wealth Management LLC lifted its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 5,725 shares of the specialty chemicals company’s stock after buying an additional 124 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Sherwin-Williams were worth $2,185,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in Sherwin-Williams by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 25,549 shares of the specialty chemicals company’s stock worth $8,873,000 after purchasing an additional 115 shares during the period. Norden Group LLC bought a new position in Sherwin-Williams in the 1st quarter worth approximately $5,015,000. First Trust Direct Indexing L.P. grew its stake in Sherwin-Williams by 3.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,525 shares of the specialty chemicals company’s stock valued at $2,266,000 after buying an additional 225 shares in the last quarter. New Century Financial Group LLC raised its holdings in Sherwin-Williams by 9.9% during the 1st quarter. New Century Financial Group LLC now owns 756 shares of the specialty chemicals company’s stock valued at $263,000 after acquiring an additional 68 shares during the period. Finally, Veracity Capital LLC purchased a new stake in shares of Sherwin-Williams during the first quarter worth $224,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

Shares of SHW stock traded down $1.77 during trading hours on Thursday, hitting $360.12. 76,144 shares of the company’s stock were exchanged, compared to its average volume of 1,529,966. The Sherwin-Williams Company has a 12-month low of $235.84 and a 12-month high of $392.57. The company has a market capitalization of $91.31 billion, a PE ratio of 38.59, a PEG ratio of 2.89 and a beta of 1.17. The business’s 50 day simple moving average is $372.35 and its 200-day simple moving average is $335.91. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the prior year, the firm earned $3.20 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts anticipate that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada decreased their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup reduced their price target on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average price target of $395.29.

Insider Buying and Selling at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

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.