Assenagon Asset Management S.A. Grows Stake in The Sherwin-Williams Company $SHW

Key Points

• Assenagon Asset Management S.A. increased its stake in The Sherwin-Williams Company by 601.0%, owning 839,756 shares valued at approximately $288.34 million as of its latest SEC filing.
• Sherwin-Williams reported a missed earnings estimate for the quarter with an EPS of $3.38 compared to the consensus estimate of $3.76, while revenue remained steady at $6.31 billion.
• Analysts have mixed ratings on Sherwin-Williams, with Bank of America upgrading it to "neutral" and a consensus target price of $387.27, indicating potential for future growth.

Assenagon Asset Management S.A. lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 601.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 839,756 shares of the specialty chemicals company's stock after buying an additional 719,965 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of Sherwin-Williams worth $288,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC raised its position in Sherwin-Williams by 4.2% in the first quarter. Opal Wealth Advisors LLC now owns 791 shares of the specialty chemicals company's stock worth $276,000 after acquiring an additional 32 shares in the last quarter. Nicolet Advisory Services LLC grew its stake in Sherwin-Williams by 3.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,096 shares of the specialty chemicals company's stock valued at $362,000 after acquiring an additional 33 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Sherwin-Williams by 1.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,655 shares of the specialty chemicals company's stock valued at $927,000 after buying an additional 33 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Sherwin-Williams by 41.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the specialty chemicals company's stock valued at $39,000 after buying an additional 33 shares in the last quarter. Finally, Beacon Financial Group lifted its holdings in Sherwin-Williams by 5.1% in the 2nd quarter. Beacon Financial Group now owns 684 shares of the specialty chemicals company's stock worth $235,000 after purchasing an additional 33 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Stock Down 0.3%

Shares of Sherwin-Williams stock traded down $1.09 on Tuesday, hitting $345.32. The company had a trading volume of 273,165 shares, compared to its average volume of 1,798,055. The stock has a market capitalization of $86.10 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 2.88 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 $354.60 and a 200-day moving average of $348.70. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly 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). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. During the same period in the previous year, the business posted $3.70 earnings per share. The business's 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, sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, August 15th. Sherwin-Williams's payout ratio is currently 31.35%.

Insider Activity at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of the company's 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 in the company, valued at $6,609,992.04. This represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James P. Lang sold 860 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SHW. Mizuho cut their price target on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company cut their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. UBS Group dropped their price target 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. BMO Capital Markets cut their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Finally, Evercore ISI lifted their target price on Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Sherwin-Williams currently has an average rating of "Moderate Buy" and a consensus target price of $387.27.

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.