Penobscot Investment Management Company Inc. Sells 2,045 Shares of The Sherwin-Williams Company (NYSE:SHW)

Penobscot Investment Management Company Inc. reduced its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,510 shares of the specialty chemicals company's stock after selling 2,045 shares during the period. Sherwin-Williams accounts for 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Sherwin-Williams Stock Performance

SHW traded down $5.88 during trading on Friday, reaching $339.77. 1,304,583 shares of the company were exchanged, compared to its average volume of 1,730,061. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The Sherwin-Williams Company has a 52 week low of $282.09 and a 52 week high of $400.42. The firm has a 50 day moving average of $353.59 and a 200 day moving average of $363.86. The stock has a market cap of $85.46 billion, a P/E ratio of 32.21, a PEG ratio of 2.98 and a beta of 1.23.

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Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results 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 return on equity of 74.50% and a net margin of 11.61%. During the same quarter in the prior year, the company posted $1.81 EPS. On average, sell-side analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

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

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the sale, the insider now owns 5,365 shares of the company's stock, valued at $1,933,009.50. The trade was a 34.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHW. Citigroup reaffirmed a "buy" rating and set a $423.00 price objective (up previously from $418.00) on shares of Sherwin-Williams in a research report on Wednesday, February 26th. Zelman & Associates raised Sherwin-Williams to a "strong-buy" rating in a research report on Friday, January 17th. Mizuho decreased their price target on shares of Sherwin-Williams from $435.00 to $408.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Robert W. Baird set a $370.00 price target on Sherwin-Williams in a report on Friday, January 31st. Finally, Jefferies Financial Group restated 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $401.13.

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.