Eventide Asset Management LLC Cuts Position in The Sherwin-Williams Company $SHW

Key Points

• Eventide Asset Management LLC reduced its stake in Sherwin-Williams by 0.9%, owning 106,368 shares worth approximately $37.11 million after selling 982 shares in the first quarter.
• Sherwin-Williams' stock is currently valued at $361.91, with a market cap of $90.24 billion and a P/E ratio of 35.90.
• The company has announced a quarterly dividend of $0.79 per share, which will be paid on September 5th, representing a 0.9% dividend yield.

Eventide Asset Management LLC reduced its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,368 shares of the specialty chemicals company's stock after selling 982 shares during the period. Eventide Asset Management LLC's holdings in Sherwin-Williams were worth $37,111,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its holdings in Sherwin-Williams by 0.4% during the 1st quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company's stock worth $3,148,000 after acquiring an additional 39 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Sherwin-Williams by 25.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company's stock worth $352,000 after acquiring an additional 201 shares in the last quarter. Sowell Financial Services LLC acquired a new position in Sherwin-Williams during the 1st quarter worth approximately $306,000. Wealthcare Advisory Partners LLC grew its holdings in Sherwin-Williams by 18.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company's stock worth $308,000 after acquiring an additional 137 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Sherwin-Williams by 19.8% during the 1st quarter. GAMMA Investing LLC now owns 4,686 shares of the specialty chemicals company's stock worth $1,636,000 after acquiring an additional 773 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHW has been the subject of several analyst reports. Loop Capital lowered their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Bank of America upgraded shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $296.00 to $375.00 in a report on Thursday, August 14th. Wells Fargo & Company lowered their target price on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Evercore ISI upped their target price on shares of Sherwin-Williams from $380.00 to $400.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Sherwin-Williams has an average rating of "Moderate Buy" and an average target price of $387.27.

Sherwin-Williams Stock Performance

NYSE:SHW traded up $2.80 during trading hours on Monday, reaching $375.23. 1,523,975 shares of the company's stock were exchanged, compared to its average volume of 1,796,657. The firm has a market capitalization of $93.56 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 3.09 and a beta of 1.18. The company has a 50-day moving average of $352.81 and a 200 day moving average of $348.64. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. 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 issued its quarterly 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 for 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 for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 EPS. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. Research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders 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 0.8%. Sherwin-Williams's dividend payout ratio is presently 31.35%.

Insiders Place Their Bets

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the company'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 completion of the transaction, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin T. Binns sold 609 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $368.82, for a total transaction of $224,611.38. Following the transaction, 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 disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

About Sherwin-Williams

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.