Bornite Capital Management LP Buys New Holdings in The Sherwin-Williams Company $SHW

Bornite Capital Management LP purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the specialty chemicals company’s stock, valued at approximately $34,336,000. Sherwin-Williams makes up approximately 3.4% of Bornite Capital Management LP’s holdings, making the stock its 13th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHW. Brighton Jones LLC increased its stake in Sherwin-Williams by 73.6% in the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock valued at $525,000 after acquiring an additional 655 shares during the period. Allworth Financial LP boosted its holdings in Sherwin-Williams by 1.3% during the first quarter. Allworth Financial LP now owns 4,776 shares of the specialty chemicals company’s stock valued at $1,597,000 after purchasing an additional 59 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Sherwin-Williams during the first quarter valued at approximately $367,000. Ballentine Partners LLC grew its stake in shares of Sherwin-Williams by 26.6% in the 1st quarter. Ballentine Partners LLC now owns 6,368 shares of the specialty chemicals company’s stock valued at $2,224,000 after purchasing an additional 1,337 shares during the period. Finally, Kathmere Capital Management LLC raised its holdings in shares of Sherwin-Williams by 18.6% in the 1st quarter. Kathmere Capital Management LLC now owns 2,822 shares of the specialty chemicals company’s stock worth $985,000 after buying an additional 443 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Up 1.9%

Shares of NYSE:SHW opened at $339.87 on Friday. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42. The company’s 50-day moving average price is $345.59 and its two-hundred day moving average price is $348.94. The company has a quick ratio of 0.48, a current ratio of 0.82 and a debt-to-equity ratio of 2.11. The firm has a market cap of $84.25 billion, a P/E ratio of 33.16, a P/E/G ratio of 3.26 and a beta of 1.21.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.15. Sherwin-Williams had a net margin of 11.05% and a return on equity of 66.75%. The company had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm posted $3.37 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.250-11.450 EPS. As a group, research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams’s dividend payout ratio is currently 30.83%.

Insider Buying and Selling

In other news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction on Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the completion of the sale, the insider directly owned 17,922 shares of the company’s stock, valued at approximately $6,609,992.04. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SHW shares. Bank of America decreased their price target on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. BMO Capital Markets reduced their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Wells Fargo & Company set a $410.00 target price on shares of Sherwin-Williams and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Mizuho set a $400.00 price target on shares of Sherwin-Williams in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sherwin-Williams from $378.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $390.87.

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.