Penobscot Investment Management Company Inc. Purchases 342 Shares of The Sherwin-Williams Company (NYSE:SHW)

Penobscot Investment Management Company Inc. grew its position in The Sherwin-Williams Company (NYSE:SHW) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,585 shares of the specialty chemicals company’s stock after acquiring an additional 342 shares during the quarter. Sherwin-Williams accounts for about 1.7% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 11th largest position. Penobscot Investment Management Company Inc.’s holdings in Sherwin-Williams were worth $14,530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Sherwin-Williams by 16.2% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,568 shares of the specialty chemicals company’s stock valued at $12,132,000 after purchasing an additional 6,639 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Sherwin-Williams during the 4th quarter valued at $38,444,000. Machina Capital S.A.S. increased its stake in shares of Sherwin-Williams by 149.0% in the 3rd quarter. Machina Capital S.A.S. now owns 9,695 shares of the specialty chemicals company’s stock valued at $2,473,000 after buying an additional 5,801 shares during the period. AIA Group Ltd increased its stake in shares of Sherwin-Williams by 20.8% in the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock valued at $5,088,000 after buying an additional 2,810 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in shares of Sherwin-Williams in the 3rd quarter valued at $4,517,000. Institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SHW. Evercore ISI lowered their target price on Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price target on Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Citigroup reduced their target price on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Seaport Res Ptn lowered Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Wolfe Research began coverage on Sherwin-Williams in a report on Friday, March 1st. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $341.39.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the transaction, the insider now directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock valued at $10,340,237 in the last three months. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Down 1.4 %

Shares of SHW stock traded down $4.31 on Tuesday, reaching $301.78. 459,526 shares of the company were exchanged, compared to its average volume of 1,458,274. The Sherwin-Williams Company has a one year low of $221.76 and a one year high of $348.37. The company has a market cap of $76.79 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.46 and a beta of 1.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46. The company has a 50-day moving average of $327.99 and a 200-day moving average of $300.22.

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

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is 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.