Mirae Asset Global Investments Co. Ltd. Boosts Position in The Sherwin-Williams Company $SHW

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in The Sherwin-Williams Company by 14.0% during the 2nd quarter, now holding 58,527 shares worth approximately $20 million.
• Several institutional investors, including Price T Rowe Associates and Assenagon Asset Management, have also significantly increased their holdings in Sherwin-Williams this year.
• Sherwin-Williams reported a missed earnings estimate for the last quarter, with earnings per share of $3.38, below the anticipated $3.76, despite revenues meeting expectations.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,527 shares of the specialty chemicals company's stock after acquiring an additional 7,204 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Sherwin-Williams were worth $20,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SHW. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $3,023,126,000 after acquiring an additional 1,505,341 shares during the period. Nuveen LLC purchased a new position in shares of Sherwin-Williams during the 1st quarter worth $265,510,000. Assenagon Asset Management S.A. raised its holdings in shares of Sherwin-Williams by 601.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 839,756 shares of the specialty chemicals company's stock worth $288,339,000 after acquiring an additional 719,965 shares during the period. National Bank of Canada FI raised its holdings in shares of Sherwin-Williams by 223.1% during the 1st quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company's stock worth $214,883,000 after acquiring an additional 424,930 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in shares of Sherwin-Williams by 367.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 537,216 shares of the specialty chemicals company's stock worth $187,590,000 after purchasing an additional 422,410 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer directly owned 377 shares of the company's stock, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Justin T. Binns sold 609 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the transaction, the insider directly owned 17,922 shares of the company's stock, valued at approximately $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. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SHW shares. Bank of America raised Sherwin-Williams from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $296.00 to $375.00 in a research report on Thursday, August 14th. Loop Capital cut their price objective on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Evercore ISI raised their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Wells Fargo & Company cut their price objective 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, Weiss Ratings reissued a "buy (b-)" rating on shares of Sherwin-Williams in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.27.

Sherwin-Williams Stock Performance

NYSE SHW opened at $346.80 on Friday. The company has a market cap of $86.47 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.86 and a beta of 1.20. 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 50-day moving average of $355.10 and a two-hundred day moving average of $348.49. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-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 earnings per share 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 business's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 earnings per share. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.79 per share. 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 payout ratio is currently 31.35%.

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.

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