Drummond Knight Asset Management Pty Ltd Invests $10.62 Million in The Sherwin-Williams Company $SHW

Key Points

• Drummond Knight Asset Management Pty Ltd purchased 30,402 shares of The Sherwin-Williams Company for approximately $10.6 million, which represents about 5.3% of their portfolio, making it their 9th largest holding.
• The company has received various analysts' ratings, with Evercore ISI raising the price target from $380 to $400, and an average price target of $387.27 across multiple analysts.
• Sherwin-Williams reported earnings of $3.38 per share, missing expectations, with revenues of $6.31 billion, and announced a quarterly dividend of $0.79 per share.

Drummond Knight Asset Management Pty Ltd bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,402 shares of the specialty chemicals company's stock, valued at approximately $10,616,000. Sherwin-Williams comprises about 5.3% of Drummond Knight Asset Management Pty Ltd's holdings, making the stock its 9th largest position.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Sherwin-Williams by 1.1% during the first quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock worth $7,711,004,000 after buying an additional 245,896 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Sherwin-Williams by 21.0% during the first 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 buying an additional 1,505,341 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Sherwin-Williams by 2.2% during the first quarter. Alliancebernstein L.P. now owns 4,409,209 shares of the specialty chemicals company's stock valued at $1,539,652,000 after purchasing an additional 93,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sherwin-Williams by 6.5% during the fourth 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 valued at $620,881,000 after purchasing an additional 111,128 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Sherwin-Williams by 41,717.1% during the first quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock valued at $571,381,000 after purchasing an additional 1,632,391 shares in the last quarter. Institutional investors own 77.67% of the company's stock.

Sherwin-Williams Price Performance

NYSE:SHW traded down $8.09 during mid-day trading on Friday, hitting $360.59. 1,848,790 shares of the stock traded hands, compared to its average volume of 1,735,146. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. The company has a market cap of $89.91 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.99 and a beta of 1.18. The business's 50-day moving average price is $354.25 and its 200 day moving average price is $349.10.

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

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid a $0.79 dividend. The ex-dividend date of this dividend was 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 31.35%.

Insiders Place Their Bets

In other news, insider Justin T. Binns sold 609 shares of the company's stock in a transaction on 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 sale, the insider owned 17,922 shares of the company's stock, valued at approximately $6,609,992.04. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James P. Lang sold 860 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer owned 377 shares of the company's stock, valued at $132,081.95. This 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 corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SHW. Loop Capital dropped their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Citigroup lowered their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Evercore ISI lifted their price objective on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Finally, Bank of America raised shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $296.00 to $375.00 in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $387.27.

Sherwin-Williams Company 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.