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

Palumbo Wealth Management LLC raised its holdings in The Sherwin-Williams Company (NYSE:SHW) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,725 shares of the specialty chemicals company’s stock after acquiring an additional 124 shares during the period. Palumbo Wealth Management LLC’s holdings in Sherwin-Williams were worth $2,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in shares of 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 buying an additional 115 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Sherwin-Williams during the first quarter valued at about $5,015,000. First Trust Direct Indexing L.P. grew its holdings in shares of Sherwin-Williams by 3.6% during the first quarter. First Trust Direct Indexing L.P. now owns 6,525 shares of the specialty chemicals company’s stock worth $2,266,000 after purchasing an additional 225 shares during the last quarter. New Century Financial Group LLC increased its stake in shares of Sherwin-Williams by 9.9% in the first quarter. New Century Financial Group LLC now owns 756 shares of the specialty chemicals company’s stock valued at $263,000 after buying an additional 68 shares during the period. Finally, Veracity Capital LLC acquired a new stake in Sherwin-Williams during the 1st quarter worth approximately $224,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Down 0.5 %

NYSE SHW traded down $1.77 on Thursday, reaching $360.12. The company had a trading volume of 76,144 shares, compared to its average volume of 1,529,966. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company’s fifty day moving average is $372.35 and its 200 day moving average is $335.91. The Sherwin-Williams Company has a 52-week low of $235.84 and a 52-week high of $392.57. The stock has a market capitalization of $91.31 billion, a P/E ratio of 38.59, a P/E/G ratio of 2.89 and a beta of 1.17.

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

Sherwin-Williams Announces Dividend

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

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of recent research reports. UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Jefferies Financial Group raised their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Morgan Stanley increased their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Finally, StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

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.