Corebridge Financial Inc. Has $20.92 Million Stock Position in The Sherwin-Williams Company $SHW

Key Points

• Corebridge Financial Inc. reduced its holdings in The Sherwin-Williams Company by 3.9%, now owning approximately 59,904 shares valued at $20.92 million.
• Sherwin-Williams recently reported earnings of $3.38 EPS, falling short of the expected $3.76 EPS, with a quarterly revenue of $6.31 billion.
• The company declared a quarterly dividend of $0.79 per share, with the payment scheduled for September 5th, reflecting a 0.9% dividend yield.

Corebridge Financial Inc. lowered its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,904 shares of the specialty chemicals company's stock after selling 2,405 shares during the quarter. Corebridge Financial Inc.'s holdings in Sherwin-Williams were worth $20,918,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SHW. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $27,000. Perkins Coie Trust Co bought a new stake in shares of Sherwin-Williams in the 1st quarter worth approximately $27,000. Synergy Investment Management LLC lifted its position in shares of Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Sherwin-Williams in the 1st quarter worth approximately $30,000. Finally, HWG Holdings LP bought a new position in shares of Sherwin-Williams during the 1st quarter worth approximately $46,000. Institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Down 1.6%

NYSE SHW opened at $366.8870 on Tuesday. The stock has a fifty day moving average of $347.88 and a 200-day moving average of $348.02. The stock has a market capitalization of $91.48 billion, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 3.10 and a beta of 1.16. 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.

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 firm had revenue of $6.31 billion during 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%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $3.70 earnings per share. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. On average, equities research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced 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. This represents a $3.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's dividend payout ratio (DPR) is 31.35%.

Insider Activity at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on 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 directly owned 377 shares of the company's stock, valued at $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SHW has been the subject of several analyst reports. Wells Fargo & Company cut their target price 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. Royal Bank Of Canada raised their target price on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BMO Capital Markets cut their target price on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Mizuho cut their target price on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Finally, Bank of America upgraded Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $296.00 to $375.00 in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $388.60.

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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