Canada Pension Plan Investment Board Sells 111,142 Shares of The Sherwin-Williams Company $SHW

Key Points

• Canada Pension Plan Investment Board reduced its holdings in The Sherwin-Williams Company by 46.5% in the first quarter, now owning approximately $44.69 million of the stock.
• The company reported an EPS of $3.38 for the last quarter, missing estimates and showing a slight revenue increase of 0.6% year-over-year.
• Sherwin-Williams announced a quarterly dividend of $0.79 per share, with an annualized dividend yield of 0.9% and a payout ratio of 31.35%.

Canada Pension Plan Investment Board trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 46.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 127,982 shares of the specialty chemicals company's stock after selling 111,142 shares during the quarter. Canada Pension Plan Investment Board owned about 0.05% of Sherwin-Williams worth $44,690,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $116,000. Tema Etfs LLC boosted its holdings in shares of Sherwin-Williams by 145.3% during the 1st quarter. Tema Etfs LLC now owns 5,773 shares of the specialty chemicals company's stock valued at $2,016,000 after acquiring an additional 3,420 shares during the last quarter. LTS One Management LP purchased a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $10,825,000. Okabena Investment Services Inc. boosted its holdings in shares of Sherwin-Williams by 12.6% during the 1st quarter. Okabena Investment Services Inc. now owns 1,036 shares of the specialty chemicals company's stock valued at $362,000 after acquiring an additional 116 shares during the last quarter. Finally, Eisler Capital Management Ltd. boosted its holdings in shares of Sherwin-Williams by 250.0% during the 1st quarter. Eisler Capital Management Ltd. now owns 12,330 shares of the specialty chemicals company's stock valued at $4,303,000 after acquiring an additional 8,807 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. This trade represents a 69.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin T. Binns sold 609 shares of the firm's 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 sale, the insider owned 17,922 shares in the company, valued at approximately $6,609,992.04. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHW. Citigroup dropped their price target on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Mizuho dropped their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets dropped their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company dropped their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, 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 report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of "Moderate Buy" and a consensus target price of $387.27.

Sherwin-Williams Stock Performance

Shares of SHW traded up $0.99 on Wednesday, reaching $361.91. The company's stock had a trading volume of 2,515,337 shares, compared to its average volume of 1,789,849. 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 stock has a market capitalization of $90.24 billion, a P/E ratio of 35.90, a PEG ratio of 3.04 and a beta of 1.18. The stock's 50 day simple moving average is $351.43 and its two-hundred day simple moving average is $348.38. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The business 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 EPS. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. Research analysts forecast that The Sherwin-Williams Company will post 12 earnings per share 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. Shareholders of record on Friday, August 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is presently 31.35%.

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.