Adage Capital Partners GP L.L.C. Sells 378,100 Shares of The Sherwin-Williams Company $SHW

Key Points

• Adage Capital Partners GP L.L.C. significantly reduced its stake in The Sherwin-Williams Company by 72.6% during the first quarter, resulting in ownership of approximately 142,806 shares valued at about $49.9 million.
• A variety of hedge funds have recently made adjustments to their investments in Sherwin-Williams, with significant increases like Synergy Investment Management boosting holdings by 583.3%.
• Sherwin-Williams announced a quarterly dividend of $0.79 per share, to be paid on September 5th, representing an annualized yield of 0.9%.

Adage Capital Partners GP L.L.C. decreased its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 72.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,806 shares of the specialty chemicals company's stock after selling 378,100 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.06% of Sherwin-Williams worth $49,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Perkins Coie Trust Co purchased a new stake in Sherwin-Williams in the first quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $27,000. Synergy Investment Management LLC lifted its stake in shares of Sherwin-Williams by 583.3% during the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in Sherwin-Williams during the first quarter worth approximately $30,000. Finally, Saudi Central Bank acquired a new stake in shares of Sherwin-Williams in the first quarter worth $33,000. Institutional investors and hedge funds own 77.67% of the company's stock.

Sherwin-Williams Stock Up 0.8%

Sherwin-Williams stock traded up $2.80 during mid-day trading on Monday, hitting $375.23. 1,494,126 shares of the company's stock were exchanged, compared to its average volume of 1,796,463. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The stock has a market cap of $93.56 billion, a P/E ratio of 37.23, a P/E/G ratio of 3.09 and a beta of 1.18. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The stock has a 50 day moving average of $352.81 and a two-hundred day moving average of $348.64.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 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 business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.16 annualized dividend and a dividend yield of 0.8%. Sherwin-Williams's dividend payout ratio is presently 31.35%.

Analyst Ratings Changes

SHW has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. UBS Group reduced their price objective on shares of Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Mizuho reduced their price objective on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. BMO Capital Markets reduced their price objective 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. Finally, Citigroup reduced their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $387.27.

Insider Activity

In other news, insider Justin T. Binns sold 609 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $368.82, for a total value of $224,611.38. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer directly owned 377 shares of the company's stock, valued at $132,081.95. This represents a 69.52% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

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.