MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Position in The Sherwin-Williams Company $SHW

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in The Sherwin-Williams Company by 14.9%, acquiring an additional 5,716 shares, bringing their total to 44,188 shares valued at $15.43 million.
• The Sherwin-Williams stock price rose 3.2%, reaching $368.79, as the company reported Q2 earnings of $3.38 per share, which fell short of analysts' expectations.
• Recently declared a quarterly dividend of $0.79, indicating a dividend yield of 0.9%, with a payout ratio of 31.35%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,188 shares of the specialty chemicals company's stock after acquiring an additional 5,716 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Sherwin-Williams were worth $15,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at approximately $27,000. Perkins Coie Trust Co bought a new stake in shares of Sherwin-Williams during the first quarter valued at approximately $27,000. Synergy Investment Management LLC boosted its position in shares of Sherwin-Williams by 583.3% during the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 70 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Sherwin-Williams during the first quarter valued at approximately $30,000. Finally, Saudi Central Bank bought a new stake in shares of Sherwin-Williams during the first quarter valued at approximately $33,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHW has been the topic of several research reports. Bank of America upgraded Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $296.00 to $375.00 in a research report on Thursday, August 14th. Loop Capital dropped their price target on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Citigroup dropped their target price on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group dropped their target price on Sherwin-Williams from $410.00 to $395.00 and set a "buy" 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 issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $387.27.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded down $8.09 during midday trading on Friday, reaching $360.59. 1,848,790 shares of the company's stock traded hands, compared to its average volume of 1,731,962. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company has a market cap of $89.91 billion, a price-to-earnings ratio of 35.77, a P/E/G ratio of 3.06 and a beta of 1.18. The stock has a 50 day moving average of $354.25 and a 200 day moving average of $349.22.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results 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 analysts' expectations of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.Sherwin-Williams's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $3.70 EPS. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, equities research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a dividend of $0.79 per share. The ex-dividend date was Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams's dividend payout ratio is 31.35%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Justin T. Binns sold 609 shares of Sherwin-Williams 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 owned 17,922 shares of the company's stock, valued at approximately $6,609,992.04. The trade was a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO James P. Lang sold 860 shares of the business's stock in a transaction 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 approximately $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

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.