14,018 Shares in The Sherwin-Williams Company $SHW Acquired by Armistice Capital LLC

Key Points

• Armistice Capital LLC invested approximately $4.90 million in The Sherwin-Williams Company during the first quarter, acquiring 14,018 shares.
• Sherwin-Williams reported earnings per share (EPS) of $3.38 for the last quarter, missing analysts' estimates of $3.76 while revenue matched expectations at $6.31 billion.
• The company declared a quarterly dividend of $0.79, with an annual yield of 0.9%, to be paid on September 5th.

Armistice Capital LLC purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,018 shares of the specialty chemicals company's stock, valued at approximately $4,895,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHW. GAMMA Investing LLC raised its position in shares of Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after buying an additional 1,632,391 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Sherwin-Williams by 21.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company's stock worth $3,023,126,000 after buying an additional 1,505,341 shares in the last quarter. Nuveen LLC bought a new stake in shares of Sherwin-Williams during the 1st quarter worth about $265,510,000. National Bank of Canada FI raised its position in shares of Sherwin-Williams by 223.1% during the 1st quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company's stock worth $214,883,000 after buying an additional 424,930 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Sherwin-Williams by 45.0% during the 1st quarter. Wellington Management Group LLP now owns 1,163,880 shares of the specialty chemicals company's stock worth $406,415,000 after buying an additional 361,113 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on SHW shares. Loop Capital dropped their price target on shares of 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 price target on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Citigroup lowered 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. Bank of America raised shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $296.00 to $375.00 in a research note on Thursday, August 14th. Finally, Wells Fargo & Company lowered their price objective on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of "Moderate Buy" and an average target price of $387.27.

Sherwin-Williams Price Performance

Shares of SHW traded up $0.99 during mid-day trading on Wednesday, hitting $361.91. The company's stock had a trading volume of 2,515,337 shares, compared to its average volume of 1,773,203. The firm has a 50-day moving average price of $351.80 and a 200 day moving average price of $348.47. The stock has a market capitalization of $90.24 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 3.04 and a beta of 1.18. 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 Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week 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 earnings per share for the quarter, missing the consensus estimate of $3.76 by ($0.38). The firm had revenue of $6.31 billion during 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 business's revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $3.70 earnings per share. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. On average, research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

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

Insider Activity at Sherwin-Williams

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

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.