Bank of Nova Scotia Makes New $78.80 Million Investment in The Sherwin-Williams Company $SHW

Key Points

• Bank of Nova Scotia acquired 228,858 Sherwin-Williams shares during the second quarter, valued at approximately $78.8 million and representing about 0.09% of the company.
• Sherwin-Williams exceeded quarterly expectations, reporting $3.70 in earnings per share and $6.79 billion in revenue, with revenue up 7.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $385.44.
• The company declared a quarterly dividend of $0.80 per share, or $3.20 annualized, yielding approximately 0.9%; meanwhile, two insiders recently sold shares.

Bank of Nova Scotia bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 228,858 shares of the specialty chemicals company's stock, valued at approximately $78,800,000. Bank of Nova Scotia owned approximately 0.09% of Sherwin-Williams as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sapient Capital LLC increased its position in Sherwin-Williams by 0.3% in the fourth quarter. Sapient Capital LLC now owns 9,176 shares of the specialty chemicals company's stock worth $2,993,000 after buying an additional 30 shares during the last quarter. Eastern Bank lifted its position in shares of Sherwin-Williams by 50.8% during the 2nd quarter. Eastern Bank now owns 89 shares of the specialty chemicals company's stock valued at $31,000 after buying an additional 30 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of Sherwin-Williams by 6.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 527 shares of the specialty chemicals company's stock valued at $171,000 after buying an additional 31 shares during the last quarter. Heartland Bank & Trust Co grew its stake in shares of Sherwin-Williams by 2.8% during the 1st quarter. Heartland Bank & Trust Co now owns 1,174 shares of the specialty chemicals company's stock worth $376,000 after acquiring an additional 32 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its stake in shares of Sherwin-Williams by 1.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,789 shares of the specialty chemicals company's stock worth $580,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Trading Up 0.0%

Shares of SHW opened at $347.02 on Friday. The Sherwin-Williams Company has a 1-year low of $289.86 and a 1-year high of $379.65. The company has a market capitalization of $84.24 billion, a P/E ratio of 31.98, a P/E/G ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.73 and a quick ratio of 0.46. The firm's 50 day simple moving average is $340.16 and its 200 day simple moving average is $332.81.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 EPS for the quarter, beating analysts' consensus estimates of $3.52 by $0.18. The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.60 billion. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The firm's revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.38 earnings per share. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. Sell-side analysts forecast that The Sherwin-Williams Company will post 12.08 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's dividend payout ratio is 29.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SHW shares. Evercore restated an "outperform" rating on shares of Sherwin-Williams in a research note on Friday, May 8th. Jefferies Financial Group reiterated a "hold" rating and set a $375.00 target price on shares of Sherwin-Williams in a research report on Tuesday, July 28th. Guggenheim started coverage on shares of Sherwin-Williams in a research note on Monday, August 3rd. They issued a "buy" rating and a $400.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley restated an "overweight" rating and set a $395.00 price target (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $385.44.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Karl J. Jorgenrud sold 7,886 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $368.30, for a total value of $2,904,413.80. Following the completion of the sale, the insider directly owned 11,944 shares of the company's stock, valued at $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Justin T. Binns sold 13,500 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $352.70, for a total value of $4,761,450.00. Following the completion of the transaction, the insider directly owned 21,937 shares in the company, valued at $7,737,179.90. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by corporate insiders.

Sherwin-Williams Company Profile

Sherwin-Williams NYSE: SHW is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

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