Perigon Wealth Management LLC Invests $2.66 Million in The Sherwin-Williams Company $SHW

Key Points

• Perigon Wealth Management purchased 7,715 Sherwin-Williams shares worth approximately $2.66 million during the second quarter. Institutional investors collectively own 77.67% of the company.
• Sherwin-Williams reported quarterly EPS of $3.70, beating estimates of $3.52, while revenue rose 7.5% year over year to $6.79 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $385.44.
• The company declared a quarterly dividend of $0.80 per share, representing an annualized dividend of $3.20 and a 0.9% yield. SHW recently opened at $349.57, down 2.7%.

Perigon Wealth Management LLC purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,715 shares of the specialty chemicals company's stock, valued at approximately $2,656,000.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $1,089,450,000. Bank of New York Mellon Corp acquired a new position in shares of Sherwin-Williams during the 2nd quarter worth approximately $547,097,000. Viking Global Investors LP raised its stake in shares of Sherwin-Williams by 101.4% during the 2nd quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company's stock worth $672,213,000 after purchasing an additional 985,520 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sherwin-Williams in the 2nd quarter valued at approximately $297,600,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Sherwin-Williams by 53,827.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 662,225 shares of the specialty chemicals company's stock valued at $214,581,000 after buying an additional 660,997 shares in the last quarter. Institutional investors own 77.67% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SHW. Bank of America lowered their price objective on shares of Sherwin-Williams from $370.00 to $365.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 21st. Royal Bank Of Canada reissued an "outperform" rating and set a $405.00 target price (up from $391.00) on shares of Sherwin-Williams in a report on Wednesday, July 8th. Wells Fargo & Company set a $360.00 price target on Sherwin-Williams and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Citigroup reaffirmed a "buy" rating on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $405.00 price objective (up from $400.00) on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Sherwin-Williams currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.44.

Sherwin-Williams Stock Down 2.7%

SHW stock opened at $349.57 on Tuesday. The Sherwin-Williams Company has a fifty-two week low of $289.86 and a fifty-two week high of $379.65. The stock has a market capitalization of $84.86 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.68 and a beta of 1.10. The business's fifty day moving average price is $337.29 and its two-hundred day moving average price is $332.81. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.73 and a quick ratio of 0.46.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the prior year, the business posted $3.38 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. On average, equities analysts anticipate that The Sherwin-Williams Company will post 12.08 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $0.80 dividend. The ex-dividend date 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 (DPR) is presently 29.49%.

Insider Buying and Selling

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 transaction of $2,904,413.80. Following the completion of the sale, the insider 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 document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

Sherwin-Williams Company Profile

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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