Comerica Bank Sells 9,530 Shares of The Sherwin-Williams Company $SHW

Key Points

• Comerica Bank reduced its holdings in The Sherwin-Williams Company (NYSE:SHW) by 7.2%, owning 122,509 shares worth approximately $42.78 million as of the end of the most recent quarter.
• Analysts have mixed opinions on Sherwin-Williams, with a target price range from $375.00 to $420.00; the stock currently holds a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.79 per share, with an annualized yield of 0.8%, and has a dividend payout ratio of 31.35%.

Comerica Bank lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,509 shares of the specialty chemicals company's stock after selling 9,530 shares during the period. Comerica Bank's holdings in Sherwin-Williams were worth $42,779,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Sherwin-Williams by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock worth $7,711,004,000 after acquiring an additional 245,896 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Sherwin-Williams by 21.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company's stock valued at $3,023,126,000 after purchasing an additional 1,505,341 shares during the period. Northern Trust Corp raised its position in shares of Sherwin-Williams by 28.0% during the 4th quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after buying an additional 595,586 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Sherwin-Williams by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,826,498 shares of the specialty chemicals company's stock worth $620,881,000 after buying an additional 111,128 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after buying an additional 1,632,391 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of the 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 $132,081.95. This trade represents a 69.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justin T. Binns sold 609 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the completion of the sale, the insider owned 17,922 shares of the company's stock, valued at $6,609,992.04. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

Sherwin-Williams Stock Performance

Shares of NYSE SHW traded up $1.23 during trading hours on Wednesday, hitting $367.69. 812,385 shares of the stock were exchanged, compared to its average volume of 2,084,904. 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 50 day moving average is $348.59 and its 200 day moving average is $348.15. The firm has a market capitalization of $91.68 billion, a P/E ratio of 36.48, a P/E/G ratio of 3.04 and a beta of 1.16. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42.

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

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a $0.79 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. 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 research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price 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. Wells Fargo & Company dropped their target price 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, Citigroup dropped their target price 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. One investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $387.27.

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.