MetLife Investment Management LLC Sells 1,260 Shares of The Sherwin-Williams Company $SHW

Key Points

• MetLife Investment Management LLC reduced its stake in The Sherwin-Williams Company by 1.8%, owning 69,537 shares valued at approximately $24.3 million.
• In recent analyst reports, Wells Fargo and Bank of America adjusted their price targets for Sherwin-Williams, with a consensus target of $388.60 reflecting a mixed outlook.
• Sherwin-Williams recently announced a quarterly dividend of $0.79 per share, reflecting a dividend yield of 0.8% and a payout ratio of 31.35%.

MetLife Investment Management LLC lessened its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,537 shares of the specialty chemicals company's stock after selling 1,260 shares during the quarter. MetLife Investment Management LLC's holdings in Sherwin-Williams were worth $24,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. ICONIQ Capital LLC grew its holdings in Sherwin-Williams by 25.2% during the first quarter. ICONIQ Capital LLC now owns 1,212 shares of the specialty chemicals company's stock worth $423,000 after acquiring an additional 244 shares during the period. Cadence Bank lifted its holdings in Sherwin-Williams by 11.0% in the first quarter. Cadence Bank now owns 979 shares of the specialty chemicals company's stock valued at $342,000 after acquiring an additional 97 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Sherwin-Williams by 2.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,701 shares of the specialty chemicals company's stock worth $918,000 after purchasing an additional 65 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sherwin-Williams by 9.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 132,647 shares of the specialty chemicals company's stock worth $46,319,000 after acquiring an additional 11,878 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC increased its holdings in Sherwin-Williams by 0.6% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 387,091 shares of the specialty chemicals company's stock valued at $135,168,000 after acquiring an additional 2,332 shares in the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Stock Down 0.3%

Shares of SHW stock traded down $1.01 on Thursday, hitting $366.39. The company's stock had a trading volume of 1,136,946 shares, compared to its average volume of 1,790,114. 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 stock has a market capitalization of $91.35 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 3.04 and a beta of 1.16. The firm's fifty day moving average price is $349.32 and its 200-day moving average price is $348.28. The Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week high of $400.42.

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 analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter last year, the company earned $3.70 earnings per share. The firm's revenue was up .6% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. Research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend 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 presently 31.35%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the company's 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 transaction, the chief accounting officer directly owned 377 shares in the company, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction on Monday, August 25th. The stock was sold at an average price of $368.82, for a total transaction 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. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SHW shares. UBS Group lowered their price target on shares of Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Royal Bank Of Canada upped 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. JPMorgan Chase & Co. lowered their price objective on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company decreased 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. Finally, Bank of America upgraded shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and raised their price target for the company from $296.00 to $375.00 in a research note on Thursday, August 14th. One research 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.