Magnus Financial Group LLC Reduces Stock Position in The Sherwin-Williams Company (NYSE:SHW)

Magnus Financial Group LLC cut its stake in The Sherwin-Williams Company (NYSE:SHW) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,590 shares of the specialty chemicals company’s stock after selling 207 shares during the quarter. Magnus Financial Group LLC’s holdings in Sherwin-Williams were worth $555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SHW. Norges Bank purchased a new stake in Sherwin-Williams in the fourth quarter worth approximately $1,359,747,000. GAMMA Investing LLC boosted its stake in shares of Sherwin-Williams by 41,717.1% in the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company’s stock worth $571,381,000 after buying an additional 1,632,391 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Sherwin-Williams by 47.1% in the fourth quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company’s stock worth $1,019,329,000 after acquiring an additional 960,724 shares during the period. Barclays PLC increased its position in Sherwin-Williams by 54.2% during the fourth quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company’s stock valued at $704,855,000 after acquiring an additional 728,798 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Sherwin-Williams in the fourth quarter valued at about $230,829,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHW has been the subject of a number of recent research reports. Morgan Stanley cut their price target on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. UBS Group cut their target price on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Citigroup reduced their target price on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Barclays decreased their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $397.00.

Sherwin-Williams Trading Down 0.1%

SHW stock opened at $357.65 on Friday. The Sherwin-Williams Company has a twelve month low of $282.09 and a twelve month high of $400.42. The stock has a market capitalization of $89.63 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.98 and a beta of 1.21. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02. The firm’s fifty day simple moving average is $346.06 and its two-hundred day simple moving average is $353.11.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a yield of 0.88%. Sherwin-Williams’s payout ratio is 29.87%.

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.