Penobscot Investment Management Company Inc. Has $15.81 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Penobscot Investment Management Company Inc. lessened its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,510 shares of the specialty chemicals company’s stock after selling 2,045 shares during the period. Sherwin-Williams makes up about 1.4% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 15th largest holding. Penobscot Investment Management Company Inc.’s holdings in Sherwin-Williams were worth $15,810,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Midwest Capital Advisors LLC bought a new position in Sherwin-Williams in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of Sherwin-Williams in the 4th quarter valued at approximately $28,000. FSA Wealth Management LLC bought a new stake in shares of Sherwin-Williams during the 3rd quarter valued at approximately $32,000. Sierra Ocean LLC acquired a new position in Sherwin-Williams during the 4th quarter worth approximately $36,000. Finally, True Wealth Design LLC lifted its stake in Sherwin-Williams by 1,000.0% in the 3rd quarter. True Wealth Design LLC now owns 99 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Sherwin-Williams Trading Down 0.4 %

NYSE SHW opened at $341.20 on Wednesday. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The business has a 50 day simple moving average of $354.10 and a 200 day simple moving average of $364.35. The stock has a market capitalization of $85.82 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.98 and a beta of 1.23.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same period last year, the company posted $1.81 earnings per share. Research analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a dividend yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.95%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHW. Jefferies Financial Group reaffirmed a “hold” rating and set a $380.00 target price (down previously from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Robert W. Baird set a $370.00 target price on Sherwin-Williams in a report on Friday, January 31st. Citigroup reissued a “buy” rating and set a $423.00 price target (up from $418.00) on shares of Sherwin-Williams in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley cut their target price on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $401.13.

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.