Cannon Wealth Management Services LLC acquired a new stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,933 shares of the specialty chemicals company's stock, valued at approximately $4,453,000. Sherwin-Williams comprises about 2.4% of Cannon Wealth Management Services LLC's portfolio, making the stock its 14th biggest position.
A number of other large investors also recently made changes to their positions in SHW. Vanguard Group Inc. lifted its position in Sherwin-Williams by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company's stock valued at $7,529,752,000 after acquiring an additional 600,119 shares in the last quarter. BlackRock Inc. bought a new position in Sherwin-Williams during the 2nd quarter worth about $6,100,083,000. State Street Corp raised its stake in shares of Sherwin-Williams by 2.4% in the 4th quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company's stock valued at $5,067,497,000 after purchasing an additional 364,832 shares during the period. Geode Capital Management LLC raised its stake in shares of Sherwin-Williams by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company's stock valued at $1,687,498,000 after purchasing an additional 37,145 shares during the period. Finally, Norges Bank bought a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $1,089,450,000. Institutional investors and hedge funds own 77.67% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on SHW shares. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Morgan Stanley restated an "overweight" rating and issued a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Evercore reaffirmed an "outperform" rating on shares of Sherwin-Williams in a research report on Friday, May 8th. Berenberg Bank set a $380.00 price target on shares of Sherwin-Williams in a research note on Monday, June 8th. Finally, Guggenheim began coverage on shares of Sherwin-Williams in a report on Monday, August 3rd. They issued a "buy" rating and a $400.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of "Moderate Buy" and an average target price of $385.44.
Read Our Latest Report on Sherwin-Williams
Insider Activity
In other news, insider Justin T. Binns sold 13,500 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the transaction, the insider directly owned 21,937 shares of the company's stock, valued at approximately $7,737,179.90. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the sale, the insider owned 11,944 shares of the company's stock, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by insiders.
Sherwin-Williams Stock Performance
NYSE SHW opened at $346.60 on Friday. The firm has a market capitalization of $84.14 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. The company has a current ratio of 0.73, a quick ratio of 0.46 and a debt-to-equity ratio of 2.16. The firm's fifty day moving average price is $339.56 and its two-hundred day moving average price is $332.71. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $379.65.
Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.18. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.60 billion. During the same period last year, the firm posted $3.38 earnings per share. The business's revenue was up 7.5% on a year-over-year basis. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12.08 EPS for the current year.
Sherwin-Williams Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams's dividend payout ratio (DPR) is currently 29.49%.
About Sherwin-Williams
(
Free Report)
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.
Further Reading
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