Veracity Capital LLC Invests $224,000 in The Sherwin-Williams Company (NYSE:SHW)

Veracity Capital LLC purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 644 shares of the specialty chemicals company’s stock, valued at approximately $224,000.

Other institutional investors also recently modified their holdings of the company. Gotham Asset Management LLC acquired a new stake in Sherwin-Williams in the third quarter valued at $806,000. Lazard Asset Management LLC grew its holdings in Sherwin-Williams by 39.4% during the 3rd quarter. Lazard Asset Management LLC now owns 50,346 shares of the specialty chemicals company’s stock worth $12,840,000 after acquiring an additional 14,233 shares during the period. Truist Financial Corp grew its holdings in Sherwin-Williams by 41.8% during the 3rd quarter. Truist Financial Corp now owns 72,122 shares of the specialty chemicals company’s stock worth $18,395,000 after acquiring an additional 21,278 shares during the period. Axxcess Wealth Management LLC acquired a new stake in Sherwin-Williams during the 3rd quarter worth about $384,000. Finally, Alps Advisors Inc. acquired a new stake in Sherwin-Williams during the 3rd quarter worth about $314,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Trading Up 0.9 %

NYSE:SHW opened at $297.22 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $75.36 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. The firm’s 50 day moving average is $304.38 and its 200 day moving average is $313.10. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $348.37.

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

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a dividend of $0.715 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.96%. Sherwin-Williams’s payout ratio is 30.49%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SHW. KeyCorp raised shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price target on the stock in a research report on Thursday, April 25th. Royal Bank of Canada dropped their price target on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Robert W. Baird raised their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Citigroup cut their target price on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. One research 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. Based on data from MarketBeat, the stock has an average 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.