Proficio Capital Partners LLC bought a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,591 shares of the specialty chemicals company’s stock, valued at approximately $548,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Sherwin-Williams during the 2nd quarter worth about $6,100,083,000. State Street Corp boosted its holdings in Sherwin-Williams by 2.4% in the fourth quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock valued at $5,067,497,000 after purchasing an additional 364,832 shares in the last quarter. Geode Capital Management LLC increased its stake in Sherwin-Williams by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock valued at $1,687,498,000 after purchasing an additional 37,145 shares during the last quarter. Norges Bank acquired a new stake in Sherwin-Williams during the fourth quarter worth approximately $1,089,450,000. Finally, Viking Global Investors LP lifted its position in shares of Sherwin-Williams by 10.1% during the 4th quarter. Viking Global Investors LP now owns 3,172,308 shares of the specialty chemicals company’s stock worth $1,027,923,000 after buying an additional 291,217 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Berenberg Bank set a $380.00 price target on shares of Sherwin-Williams in a research report on Monday, June 8th. JPMorgan Chase & Co. boosted their target price on Sherwin-Williams from $365.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. UBS Group restated a “neutral” rating and set a $390.00 price target on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Evercore reaffirmed an “outperform” rating on shares of Sherwin-Williams in a research report on Friday, May 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $405.00 price objective (up from $391.00) on shares of Sherwin-Williams in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $386.29.
Insider Buying and Selling
In other news, insider Karl J. Jorgenrud sold 7,886 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the transaction, the insider directly owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. This represents a 39.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total value of $4,761,450.00. Following the completion of the sale, the insider directly owned 21,937 shares of the company’s stock, valued at $7,737,179.90. This represents a 38.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by insiders.
Sherwin-Williams Price Performance
Sherwin-Williams stock opened at $331.69 on Thursday. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.73 and a quick ratio of 0.46. The business has a 50 day simple moving average of $343.43 and a 200-day simple moving average of $331.38. The Sherwin-Williams Company has a 12 month low of $289.86 and a 12 month high of $377.77. The stock has a market capitalization of $80.52 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.
Sherwin-Williams (NYSE:SHW – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.18. Sherwin-Williams had a net margin of 11.01% and a return on equity of 67.97%. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the previous year, the company posted $3.38 EPS. Sherwin-Williams’s revenue was up 7.5% compared to the same quarter last year. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Equities analysts predict that The Sherwin-Williams Company will post 12.08 earnings per share for the current year.
Sherwin-Williams Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $0.80 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 29.49%.
About Sherwin-Williams
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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