Perigon Wealth Management LLC Invests $442,000 in The Sherwin-Williams Company (NYSE:SHW)

Perigon Wealth Management LLC bought a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,417 shares of the specialty chemicals company’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in Sherwin-Williams during the third quarter worth $25,000. Union Savings Bank acquired a new position in shares of Sherwin-Williams during the third quarter valued at about $28,000. Providence Capital Advisors LLC lifted its stake in shares of Sherwin-Williams by 44,853.3% in the first quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 6,728 shares during the period. Lee Financial Co bought a new position in Sherwin-Williams during the third quarter valued at about $32,000. Finally, BluePath Capital Management LLC acquired a new position in Sherwin-Williams in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

SHW opened at $313.97 on Tuesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48. The company’s 50 day simple moving average is $328.68 and its 200-day simple moving average is $296.45. The Sherwin-Williams Company has a one year low of $221.76 and a one year high of $348.37. The stock has a market capitalization of $79.89 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.80 by $0.01. The company had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $1.89 EPS. Sell-side analysts anticipate that The Sherwin-Williams Company will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were given a dividend of $0.715 per share. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, February 23rd. This represents a $2.86 annualized dividend and a dividend yield of 0.91%. Sherwin-Williams’s payout ratio is currently 30.92%.

Insider Buying and Selling

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following 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 available through this hyperlink. In related news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the transaction, the senior vice president now owns 28,475 shares in the company, valued at $9,187,743.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 owns 9,329 shares in the company, valued at $2,925,014.66. 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 over the last ninety days. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SHW shares. Citigroup boosted their price objective on Sherwin-Williams from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Robert W. Baird reissued a “neutral” rating and issued a $300.00 price target (up previously from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Seaport Res Ptn downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Barclays upped their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company raised their price target on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $326.50.

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.