Canoe Financial LP Cuts Stock Position in The Sherwin-Williams Company $SHW

Key Points

• Canoe Financial LP decreased its stake in The Sherwin-Williams Company by 0.3%, holding 353,157 shares valued at approximately $121.3 million at the end of the second quarter.
• Multiple institutional investors have recently adjusted their stakes in Sherwin-Williams, with Vanguard Group, Price T Rowe Associates, and GAMMA Investing making significant increases in their holdings.
• Analysts have lowered price targets for Sherwin-Williams, with the average price target now at $387.27 and a consensus rating of "Moderate Buy," reflecting a mixed outlook.

Canoe Financial LP lessened its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 0.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 353,157 shares of the specialty chemicals company's stock after selling 950 shares during the quarter. Sherwin-Williams makes up about 1.7% of Canoe Financial LP's investment portfolio, making the stock its 22nd largest position. Canoe Financial LP owned about 0.14% of Sherwin-Williams worth $121,260,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Perkins Coie Trust Co bought a new position in Sherwin-Williams during the first quarter valued at $27,000. Park Square Financial Group LLC bought a new position in Sherwin-Williams during the fourth quarter valued at $27,000. Synergy Investment Management LLC increased its position in Sherwin-Williams by 583.3% during the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 70 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Sherwin-Williams during the first quarter valued at $30,000. Finally, Saudi Central Bank bought a new position in Sherwin-Williams during the first quarter valued at $33,000. Institutional investors own 77.67% of the company's stock.

Sherwin-Williams Price Performance

NYSE SHW traded down $1.29 on Tuesday, hitting $345.12. The company had a trading volume of 351,580 shares, compared to its average volume of 1,798,534. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. 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 company's fifty day moving average price is $354.60 and its 200-day moving average price is $348.70. The company has a market capitalization of $86.05 billion, a PE ratio of 34.27, a PEG ratio of 2.88 and a beta of 1.18.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $3.70 EPS. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on SHW. BMO Capital Markets cut their price objective 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. JPMorgan Chase & Co. cut 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. Bank of America upgraded shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $296.00 to $375.00 in a report on Thursday, August 14th. UBS Group cut their price target on shares of Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Evercore ISI upped their price target on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. One research 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $387.27.

Insider Activity

In related news, insider Justin T. Binns sold 609 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $368.82, for a total value of $224,611.38. Following the sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James P. Lang sold 860 shares of the business's 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

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.