DAVENPORT & Co LLC Sells 1,002 Shares of The Sherwin-Williams Company $SHW

Key Points

• DAVENPORT & Co LLC has sold 1,002 shares of The Sherwin-Williams Company, reducing its holdings by 0.2%, while still maintaining a significant position of about 510,632 shares, valued at $175.7 million.
• Several institutional investors, including Synergy Investment Management LLC and Anderson Financial Strategies LLC, have made significant changes to their holdings in Sherwin-Williams, with 77.67% of the stock now owned by institutional investors.
• Sherwin-Williams reported earnings per share of $3.38 for the last quarter, missing analyst expectations, with revenue standing at $6.31 billion, reflecting a 0.6% year-over-year increase.

DAVENPORT & Co LLC decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 510,632 shares of the specialty chemicals company's stock after selling 1,002 shares during the period. Sherwin-Williams comprises about 1.0% of DAVENPORT & Co LLC's holdings, making the stock its 16th largest holding. DAVENPORT & Co LLC owned about 0.20% of Sherwin-Williams worth $175,724,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Synergy Investment Management LLC increased its holdings in shares of 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 in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Sherwin-Williams during the 1st quarter valued at $30,000. Saudi Central Bank bought a new position in Sherwin-Williams in the first quarter valued at about $33,000. Flaharty Asset Management LLC bought a new position in shares of Sherwin-Williams in the 1st quarter worth approximately $33,000. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Sherwin-Williams during the 1st quarter worth $35,000. 77.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO James P. Lang sold 860 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the transaction, the chief accounting officer directly owned 377 shares of the company's stock, valued at $132,081.95. This represents a 69.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin T. Binns sold 609 shares of the 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 completion of the transaction, the insider directly owned 17,922 shares in the company, valued at $6,609,992.04. This represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Sherwin-Williams Stock Performance

SHW stock opened at $346.80 on Monday. The firm has a market cap of $86.47 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.88 and a beta of 1.20. The Sherwin-Williams Company has a one year low of $308.84 and a one year 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 50-day simple moving average of $355.10 and a two-hundred day simple moving average of $348.68.

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 return on equity of 66.91% and a net margin of 11.03%.The firm had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.31 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. Sherwin-Williams's revenue for the quarter was up .6% compared to the same quarter last year. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. On average, equities analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a $0.79 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is 31.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho lowered their price objective on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company cut their target price on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Evercore ISI boosted their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. Finally, Citigroup reduced their target price on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Sherwin-Williams has an average rating of "Moderate Buy" and an average price target of $387.27.

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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