Rafferty Asset Management LLC Reduces Stock Holdings in The Sherwin-Williams Company $SHW

Key Points

• Rafferty Asset Management LLC reduced its stake in Sherwin-Williams by 14.8% during the first quarter, now owning 39,878 shares worth approximately $13.9 million.
• Sherwin-Williams missed earnings expectations for the last quarter with $3.38 EPS, falling short of the consensus estimate of $3.76.
• The company recently announced a quarterly dividend of $0.79, representing an annual yield of 0.9%, with a payout ratio of 31.35%.

Rafferty Asset Management LLC decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,878 shares of the specialty chemicals company's stock after selling 6,911 shares during the quarter. Rafferty Asset Management LLC's holdings in Sherwin-Williams were worth $13,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Perkins Coie Trust Co acquired a new position in shares of Sherwin-Williams in the first quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in shares of Sherwin-Williams in the fourth quarter valued at approximately $27,000. Synergy Investment Management LLC increased its stake in shares of Sherwin-Williams by 583.3% in the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Sherwin-Williams in the first quarter valued at approximately $30,000. Finally, HWG Holdings LP acquired a new position in shares of Sherwin-Williams in the first quarter valued at approximately $46,000. Institutional investors own 77.67% of the company's stock.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock traded down $0.26 on Friday, reaching $365.92. The stock had a trading volume of 1,328,498 shares, compared to its average volume of 2,017,761. 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 business's 50 day moving average is $350.69 and its two-hundred day moving average is $348.32. The company has a market cap of $91.24 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 3.04 and a beta of 1.16. 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 posted its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.76 by ($0.38). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate 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 last year, the company posted $3.70 earnings per share. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 15th. Sherwin-Williams's dividend payout ratio (DPR) is presently 31.35%.

Insider Buying and Selling

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the 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 transaction, the chief accounting officer directly owned 377 shares in the company, valued at $132,081.95. This trade represents a 69.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin T. Binns sold 609 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were 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 in the company, valued at $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. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHW shares. Wells Fargo & Company lowered their price objective on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Evercore ISI raised their price objective on shares of Sherwin-Williams from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Citigroup reduced their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. UBS Group reduced their price target on shares of Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, BMO Capital Markets cut their price objective on shares of 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 given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $387.27.

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.