Founders Financial Securities LLC Raises Stake in The Sherwin-Williams Company (NYSE:SHW)

VaselineSeptember 5, 2024

0 4 minutes read

Founders Financial Securities LLC boosted its holdings in The Sherwin-Williams Company (NYSE:SHW – Free Report) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,002 shares of the specialty chemicals company’s stock after acquiring an additional 41 shares during the quarter. Founders Financial Securities LLC’s holdings in Sherwin-Williams were worth $896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have added to or reduced their stakes in SHW. First United Bank & Trust purchased a new stake in Sherwin-Williams during the fourth quarter valued at $31,000. Tortoise Investment Management LLC lifted its position in shares of Sherwin-Williams by 158.5% in the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares during the period. Anfield Capital Management LLC purchased a new stake in Sherwin-Williams in the second quarter valued at about $38,000. Northwest Investment Counselors LLC bought a new stake in Sherwin-Williams in the first quarter valued at approximately $47,000. Finally, Rise Advisors LLC boosted its stake in Sherwin-Williams by 1,154.5% in the first quarter. Rise Advisors LLC now owns 138 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 127 shares during the period. 77.67% of shares are held by institutional investors.

Analyst upgrades and downgrades

Several brokerages have commented on SHW. Royal Bank of Canada reissued an “outperform” rating and set a $418.00 price objective on shares of Sherwin-Williams in a research report on Friday, August 30th. Robert W. Baird lifted their price target on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Jefferies Financial Group raised their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. Finally, Wells Fargo & Company upped their target price on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday. July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.68, according to MarketBeat.

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Indoor activity

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Company insiders own 0.60% of the company’s shares.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $362.70 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.50, and a debt-to-equity ratio of 2.17. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $371.19. The firm has a market cap of $91.49 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. The firm has a 50-day moving average of $336.71 and a 200-day moving average of $324.27.

Sherwin-Williams (NYSE:SHW – Get Your Free Report ) last posted its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. In the same quarter last year, the company earned $3.29 EPS. Sherwin-Williams’ revenue for the quarter was up 0.5% year-over-year. On average, research analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.715 per share. This represents a dividend of $2.86 on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, August 16. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Profile of Sherwin-Williams

(Free Report)

The Sherwin-Williams Company engages in the development, manufacture, distribution and sale of paints, coatings 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.