Columbia Asset Management Sells 705,000 Shares of The Sherwin-Williams Company $SHW

Key Points

• Columbia Asset Management drastically reduced its holdings in The Sherwin-Williams Company by 99.7%, resulting in ownership of just 2,063 shares after selling 705,000 shares in the second quarter.
• Bank of America and Evercore ISI recently upgraded Sherwin-Williams, raising its price target to $375.00 and $400.00 respectively, indicating positive outlooks from analysts.
• Sherwin-Williams announced a quarterly dividend of $0.79 per share, translating to an annualized yield of 0.9% while maintaining a payout ratio of 31.35%.

Columbia Asset Management decreased its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 99.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,063 shares of the specialty chemicals company's stock after selling 705,000 shares during the period. Columbia Asset Management's holdings in Sherwin-Williams were worth $708,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Moors & Cabot Inc. raised its stake in shares of Sherwin-Williams by 0.4% in the first quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company's stock worth $3,148,000 after purchasing an additional 39 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Sherwin-Williams in the first quarter worth $515,000. Kingswood Wealth Advisors LLC raised its stake in shares of Sherwin-Williams by 25.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company's stock worth $352,000 after purchasing an additional 201 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Sherwin-Williams in the first quarter worth $306,000. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Sherwin-Williams by 18.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company's stock worth $308,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SHW shares. Bank of America upgraded Sherwin-Williams from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $296.00 to $375.00 in a research note on Thursday, August 14th. Evercore ISI lifted their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Wells Fargo & Company reduced their price objective on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Loop Capital reduced their price objective on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $387.27.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $346.32 on Wednesday. The stock has a 50-day simple moving average of $354.93 and a two-hundred day simple moving average of $348.45. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The firm has a market capitalization of $86.35 billion, a PE ratio of 34.36, a P/E/G ratio of 2.85 and a beta of 1.18.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly 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). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the firm posted $3.70 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. Analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Insider Activity

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was 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 of the company's stock, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 of the company's stock, valued at $6,609,992.04. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

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.

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