The Sherwin-Williams Company (NYSE:SHW) Shares Sold by AGF Management Ltd.

Key Points

• AGF Management Ltd. has reduced its stake in The Sherwin-Williams Company by 5.8%, holding approximately 0.06% of the company's shares, valued at $51.84 million.
• Several brokerages have lowered their price targets for Sherwin-Williams, with Loop Capital setting a new target of $380.00, while Royal Bank Of Canada increased theirs to $420.00.
• The company has announced a quarterly dividend of $0.79 per share, representing an annualized yield of 0.9%, with the payment date set for September 5th.

AGF Management Ltd. decreased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 148,454 shares of the specialty chemicals company's stock after selling 9,062 shares during the period. AGF Management Ltd. owned approximately 0.06% of Sherwin-Williams worth $51,839,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. AIA Group Ltd grew its stake in shares of Sherwin-Williams by 24.9% during the first quarter. AIA Group Ltd now owns 21,130 shares of the specialty chemicals company's stock worth $7,378,000 after acquiring an additional 4,209 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Sherwin-Williams by 601.8% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,067 shares of the specialty chemicals company's stock worth $1,776,000 after acquiring an additional 4,345 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in Sherwin-Williams by 5.3% in the first quarter. Motley Fool Asset Management LLC now owns 14,463 shares of the specialty chemicals company's stock valued at $5,050,000 after buying an additional 723 shares during the last quarter. SouthState Corp boosted its position in Sherwin-Williams by 17.0% in the first quarter. SouthState Corp now owns 1,615 shares of the specialty chemicals company's stock valued at $564,000 after buying an additional 235 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Sherwin-Williams in the first quarter valued at approximately $265,510,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Insider Buying and Selling

In related news, CAO James P. Lang sold 860 shares of the 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 transaction, the chief accounting officer directly owned 377 shares of the company's stock, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Stock Performance

NYSE:SHW traded up $3.74 during trading hours on Tuesday, reaching $358.32. The company had a trading volume of 2,567,519 shares, compared to its average volume of 2,046,326. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The firm has a market cap of $89.34 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 3.35 and a beta of 1.16. The business's 50 day moving average price is $345.58 and its 200-day moving average price is $347.84. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The company had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.70 EPS. Research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's dividend payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BMO Capital Markets dropped their target price on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Loop Capital dropped their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their target price on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Finally, UBS Group dropped their target price 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

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.