Bank of New York Mellon Corp Sells 150,174 Shares of The Sherwin-Williams Company $SHW

Bank of New York Mellon Corp decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,526,152 shares of the specialty chemicals company’s stock after selling 150,174 shares during the period. Bank of New York Mellon Corp’s holdings in Sherwin-Williams were worth $524,020,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Sherwin-Williams by 21.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company’s stock worth $3,023,126,000 after buying an additional 1,505,341 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Sherwin-Williams in the first quarter worth about $265,510,000. Assenagon Asset Management S.A. lifted its position in shares of Sherwin-Williams by 601.0% in the second quarter. Assenagon Asset Management S.A. now owns 839,756 shares of the specialty chemicals company’s stock worth $288,339,000 after buying an additional 719,965 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Sherwin-Williams by 4,029.8% in the second quarter. Bessemer Group Inc. now owns 621,532 shares of the specialty chemicals company’s stock worth $213,410,000 after buying an additional 606,482 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Sherwin-Williams by 223.1% in the first quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company’s stock worth $214,883,000 after buying an additional 424,930 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Up 0.2%

Shares of SHW stock opened at $345.71 on Tuesday. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.82 and a quick ratio of 0.48. The stock’s 50 day simple moving average is $347.86 and its two-hundred day simple moving average is $348.83. The company has a market cap of $85.70 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 3.26 and a beta of 1.20.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.15. Sherwin-Williams had a return on equity of 66.75% and a net margin of 11.05%.The business had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the business posted $3.37 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Sherwin-Williams has set its FY 2025 guidance at 11.250-11.450 EPS. Research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, November 14th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams’s dividend payout ratio is 30.83%.

Insider Activity at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the sale, the insider directly owned 17,922 shares in the company, valued at approximately $6,609,992.04. This represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO James P. Lang sold 860 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHW. Weiss Ratings reiterated a “buy (b-)” rating on shares of Sherwin-Williams in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $405.00 target price on Sherwin-Williams and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Mizuho set a $400.00 target price on Sherwin-Williams in a research report on Wednesday, October 29th. Bank of America decreased their target price on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Loop Capital decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $390.87.

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.