Palisade Capital Management LP Takes $4.12 Million Position in The Sherwin-Williams Company $SHW

Key Points

• Palisade Capital Management purchased 11,979 Sherwin-Williams shares during the second quarter, building a position worth approximately $4.12 million. Institutional investors collectively own 77.67% of SHW.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and seven Holds. The stock has an average “Moderate Buy” rating and a consensus price target of $386.29.
• Sherwin-Williams exceeded quarterly expectations, reporting $3.70 in EPS and $6.79 billion in revenue, up 7.5% year over year. The company also declared a quarterly dividend of $0.80 per share, equivalent to a 0.9% annual yield.

Palisade Capital Management LP purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,979 shares of the specialty chemicals company's stock, valued at approximately $4,125,000.

A number of other institutional investors also recently bought and sold shares of SHW. Wilkerson Advisory Group LLC increased its position in Sherwin-Williams by 172.4% during the first quarter. Wilkerson Advisory Group LLC now owns 79 shares of the specialty chemicals company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Ares Financial Consulting LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter worth about $27,000. Lloyd Advisory Services LLC. purchased a new position in shares of Sherwin-Williams during the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new position in Sherwin-Williams during the 1st quarter valued at about $28,000. Finally, Tacita Capital Inc purchased a new stake in Sherwin-Williams in the 2nd quarter worth about $30,000. 77.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Karl J. Jorgenrud sold 7,886 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $368.30, for a total value of $2,904,413.80. Following the completion of the sale, the insider directly owned 11,944 shares of the company's stock, valued at $4,398,975.20. This represents a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin T. Binns sold 13,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the transaction, the insider owned 21,937 shares in the company, valued at approximately $7,737,179.90. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on SHW. Weiss Ratings upgraded Sherwin-Williams from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Berenberg Bank set a $380.00 price objective on Sherwin-Williams in a research report on Monday, June 8th. Citigroup reiterated a "buy" rating on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a "hold" rating and set a $375.00 target price on shares of Sherwin-Williams in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $386.29.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW opened at $350.27 on Wednesday. The firm's 50 day simple moving average is $341.24 and its 200-day simple moving average is $332.43. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.46 and a current ratio of 0.73. The Sherwin-Williams Company has a one year low of $289.86 and a one year high of $377.77. The firm has a market cap of $85.03 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.18. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same quarter in the previous year, the business earned $3.38 earnings per share. Sherwin-Williams's quarterly revenue was up 7.5% on a year-over-year basis. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. As a group, equities analysts predict that The Sherwin-Williams Company will post 12.08 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's dividend payout ratio is presently 29.49%.

About Sherwin-Williams

Sherwin-Williams NYSE: SHW is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

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