The Sherwin-Williams Company $SHW Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC has reduced its stake in The Sherwin-Williams Company by 33.4%, now holding 1,333,941 shares valued at approximately $465.8 million.
• The company recently missed analysts' expectations with earnings of $3.38 per share for the last quarter, against a consensus estimate of $3.76.
• Sherwin-Williams announced a quarterly dividend of $0.79 per share, with a yield of 0.9%, scheduled for payment on September 5th.

Parnassus Investments LLC trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 33.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,333,941 shares of the specialty chemicals company's stock after selling 670,408 shares during the quarter. Parnassus Investments LLC owned 0.53% of Sherwin-Williams worth $465,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock valued at $571,381,000 after acquiring an additional 1,632,391 shares during the period. Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 1,505,341 shares during the period. Nuveen LLC bought a new position in shares of Sherwin-Williams in the first quarter worth about $265,510,000. National Bank of Canada FI lifted its holdings in 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 valued at $214,883,000 after buying an additional 424,930 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Sherwin-Williams by 45.0% in the 1st quarter. Wellington Management Group LLP now owns 1,163,880 shares of the specialty chemicals company's stock valued at $406,415,000 after buying an additional 361,113 shares during the period. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Performance

Shares of NYSE SHW traded down $4.82 during midday trading on Tuesday, reaching $361.01. The company had a trading volume of 1,388,147 shares, compared to its average volume of 1,782,543. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42. The business's 50-day simple moving average is $351.13 and its 200 day simple moving average is $348.29. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The stock has a market cap of $90.01 billion, a P/E ratio of 35.81, a P/E/G ratio of 3.04 and a beta of 1.18.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 EPS. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. On average, analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders 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 yield of 0.9%. Sherwin-Williams's payout ratio is presently 31.35%.

Insider Activity at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of the firm's stock in a transaction that occurred 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 trade represents a 69.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Justin T. Binns sold 609 shares of the firm's stock in a transaction that occurred 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 directly owned 17,922 shares in the company, valued at approximately $6,609,992.04. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHW shares. UBS Group decreased their price objective on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Bank of America raised shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $296.00 to $375.00 in a research report on Thursday, August 14th. Citigroup cut their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Mizuho lowered their target price on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Finally, BMO Capital Markets cut their price target on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. One equities 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $387.27.

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.