Commerce Bank Lowers Holdings in The Sherwin-Williams Company (NYSE:SHW)

Commerce Bank trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,075 shares of the specialty chemicals company’s stock after selling 1,059 shares during the quarter. Commerce Bank’s holdings in Sherwin-Williams were worth $11,488,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. First Hawaiian Bank increased its stake in Sherwin-Williams by 0.5% in the fourth quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock valued at $2,358,000 after purchasing an additional 34 shares during the last quarter. Tsfg LLC grew its position in shares of Sherwin-Williams by 4.7% in the 4th quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock valued at $235,000 after buying an additional 34 shares during the last quarter. Manchester Capital Management LLC raised its stake in Sherwin-Williams by 5.5% during the 4th quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock worth $208,000 after acquiring an additional 35 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in Sherwin-Williams by 0.7% in the first quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock valued at $1,706,000 after acquiring an additional 35 shares during the last quarter. Finally, Ellsworth Advisors LLC boosted its stake in Sherwin-Williams by 0.9% in the fourth quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company’s stock valued at $1,281,000 after acquiring an additional 36 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Loop Capital decreased their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Robert W. Baird raised their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Evercore ISI upped their target price on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.65.

Sherwin-Williams Price Performance

Shares of SHW traded up $3.45 on Wednesday, reaching $302.36. The stock had a trading volume of 352,833 shares, compared to its average volume of 1,568,599. The firm has a 50-day moving average of $304.03 and a 200 day moving average of $312.98. The firm has a market capitalization of $76.66 billion, a PE ratio of 32.04, a PEG ratio of 2.41 and a beta of 1.16. The Sherwin-Williams Company has a twelve month low of $232.06 and a twelve month high of $348.37. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32.

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

Sherwin-Williams Dividend Announcement

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

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.