Penobscot Investment Management Company Inc. Increases Holdings in The Sherwin-Williams Company $SHW

Penobscot Investment Management Company Inc. raised its stake in The Sherwin-Williams Company (NYSE:SHW) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,644 shares of the specialty chemicals company’s stock after acquiring an additional 548 shares during the period. Sherwin-Williams makes up 1.4% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 15th biggest position. Penobscot Investment Management Company Inc.’s holdings in Sherwin-Williams were worth $16,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Perkins Coie Trust Co bought a new position in Sherwin-Williams in the 1st quarter worth about $27,000. Synergy Investment Management LLC raised its holdings in Sherwin-Williams by 583.3% in the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Sherwin-Williams in the first quarter worth approximately $30,000. Saudi Central Bank purchased a new stake in shares of Sherwin-Williams during the first quarter valued at approximately $33,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Sherwin-Williams during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction on Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the transaction, the insider owned 17,922 shares in the company, valued at $6,609,992.04. This trade represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO James P. Lang sold 860 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the sale, the chief accounting officer owned 377 shares of the company’s stock, valued at $132,081.95. This trade represents a 69.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Stock Up 0.8%

Sherwin-Williams stock opened at $346.80 on Friday. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The stock has a fifty day moving average of $355.10 and a 200 day moving average of $348.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market cap of $86.47 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.20.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the previous year, the business posted $3.70 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, sell-side analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 15th. Sherwin-Williams’s dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SHW. Citigroup decreased their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Evercore ISI boosted their price target on Sherwin-Williams from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. UBS Group dropped their price objective on Sherwin-Williams from $410.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company reduced their price objective on Sherwin-Williams from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Finally, Loop Capital lowered their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $387.27.

About Sherwin-Williams

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.