Bank of Nova Scotia Raises Holdings in The Sherwin-Williams Company $SHW

Key Points

• Bank of Nova Scotia increased its Sherwin-Williams stake by 37.6% in the first quarter, buying 83,370 additional shares and bringing its total holding to 305,135 shares worth about $97.8 million.
• Other large institutional investors also added to positions, and hedge funds and institutions now own 77.67% of Sherwin-Williams stock.
• Sherwin-Williams beat earnings expectations in its latest quarter, reporting $2.35 EPS on revenue of $5.67 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $373.92.

Bank of Nova Scotia lifted its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 37.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,135 shares of the specialty chemicals company's stock after buying an additional 83,370 shares during the quarter. Bank of Nova Scotia owned approximately 0.12% of Sherwin-Williams worth $97,814,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Sherwin-Williams by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company's stock valued at $7,529,752,000 after purchasing an additional 600,119 shares in the last quarter. State Street Corp lifted its holdings in Sherwin-Williams by 2.4% during the fourth quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company's stock worth $5,067,497,000 after buying an additional 364,832 shares during the period. Geode Capital Management LLC lifted its holdings in Sherwin-Williams by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company's stock worth $1,687,498,000 after buying an additional 37,145 shares during the period. Norges Bank bought a new stake in Sherwin-Williams during the 4th quarter valued at $1,089,450,000. Finally, Viking Global Investors LP increased its holdings in shares of Sherwin-Williams by 10.1% in the 4th quarter. Viking Global Investors LP now owns 3,172,308 shares of the specialty chemicals company's stock valued at $1,027,923,000 after acquiring an additional 291,217 shares during the period. Hedge funds and other institutional investors own 77.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SHW shares. Weiss Ratings cut Sherwin-Williams from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 17th. Bank of America cut their target price on Sherwin-Williams from $370.00 to $365.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 21st. Citigroup assumed coverage on shares of Sherwin-Williams in a research report on Wednesday, June 24th. They issued an "overweight" rating on the stock. Wells Fargo & Company decreased their target price on shares of Sherwin-Williams from $365.00 to $350.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 29th. Finally, BMO Capital Markets raised their target price on shares of Sherwin-Williams from $355.00 to $400.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Sherwin-Williams presently has a consensus rating of "Moderate Buy" and a consensus price target of $373.92.

Sherwin-Williams Trading Down 3.0%

Shares of NYSE:SHW opened at $310.39 on Friday. The business's 50-day moving average is $320.37 and its 200 day moving average is $332.32. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.86 and a quick ratio of 0.53. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $379.65. The firm has a market capitalization of $76.56 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.48 and a beta of 1.10.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.08. Sherwin-Williams had a return on equity of 64.55% and a net margin of 10.86%.The business had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the company earned $2.25 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. Sherwin-Williams has set its FY 2026 guidance at 11.500-11.900 EPS. On average, research analysts predict that The Sherwin-Williams Company will post 11.78 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams's payout ratio is currently 30.71%.

About Sherwin-Williams

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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