Janney Montgomery Scott LLC Sells 9,673 Shares of The Sherwin-Williams Company $SHW

Janney Montgomery Scott LLC lessened its position in The Sherwin-Williams Company (NYSE:SHW) by 7.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 121,881 shares of the specialty chemicals company’s stock after selling 9,673 shares during the period. Janney Montgomery Scott LLC’s holdings in Sherwin-Williams were worth $41,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Perkins Coie Trust Co bought a new position in Sherwin-Williams in the 1st quarter valued at approximately $27,000. Synergy Investment Management LLC lifted its holdings 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 purchased a new stake in shares of Sherwin-Williams during the first quarter valued at $30,000. Saudi Central Bank bought a new stake in Sherwin-Williams in the 1st quarter worth about $33,000. Finally, Flaharty Asset Management LLC purchased a new position in Sherwin-Williams in the 1st quarter worth about $33,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Up 1.0%

Shares of SHW stock opened at $346.32 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The company has a market cap of $86.35 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.85 and a beta of 1.18. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42. The firm has a fifty day moving average price of $354.93 and a 200-day moving average price of $348.45.

Sherwin-Williams (NYSE:SHW) last released its earnings results 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). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter last year, the firm posted $3.70 earnings per share. Sherwin-Williams’s revenue for the quarter was up .6% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, equities 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 was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid 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 dividend yield of 0.9%. Sherwin-Williams’s payout ratio is 31.35%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the stock in a transaction 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. This represents a 69.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Justin T. Binns sold 609 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target 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. Bank of America upgraded shares of Sherwin-Williams from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $296.00 to $375.00 in a report on Thursday, August 14th. Loop Capital decreased their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. UBS Group dropped their price target on Sherwin-Williams from $410.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company cut their price objective on Sherwin-Williams from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Sherwin-Williams 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.