Mirae Asset Global Investments Co. Ltd. Boosts Position in The Sherwin-Williams Company $SHW

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 14.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 58,527 shares of the specialty chemicals company’s stock after acquiring an additional 7,204 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sherwin-Williams were worth $20,096,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SHW. Brighton Jones LLC lifted its stake in Sherwin-Williams by 73.6% during the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock worth $525,000 after purchasing an additional 655 shares during the last quarter. Merit Financial Group LLC lifted its stake in Sherwin-Williams by 232.7% during the first quarter. Merit Financial Group LLC now owns 3,916 shares of the specialty chemicals company’s stock worth $1,367,000 after purchasing an additional 2,739 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Sherwin-Williams by 122.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,594 shares of the specialty chemicals company’s stock worth $1,953,000 after purchasing an additional 3,077 shares during the last quarter. Portside Wealth Group LLC lifted its stake in Sherwin-Williams by 5.5% during the first quarter. Portside Wealth Group LLC now owns 999 shares of the specialty chemicals company’s stock worth $340,000 after purchasing an additional 52 shares during the last quarter. Finally, Generali Investments Management Co LLC lifted its stake in Sherwin-Williams by 9.5% during the first quarter. Generali Investments Management Co LLC now owns 598 shares of the specialty chemicals company’s stock worth $209,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Up 0.8%

Shares of SHW stock opened at $346.80 on Friday. The business’s fifty day moving average price is $355.10 and its 200 day moving average price is $348.49. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The firm has a market capitalization of $86.47 billion, a PE ratio of 34.40, a P/E/G ratio of 2.86 and a beta of 1.20. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data 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). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the company earned $3.70 EPS. The company’s revenue 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, sell-side analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued 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 of this dividend was Friday, August 15th. Sherwin-Williams’s dividend payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Mizuho reduced their price objective on Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced 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. Bank of America upgraded Sherwin-Williams from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $296.00 to $375.00 in a research note on Thursday, August 14th. Finally, BMO Capital Markets reduced their price objective on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $387.27.

Insiders Place Their Bets

In other Sherwin-Williams news, 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 value of $224,611.38. Following the sale, the insider owned 17,922 shares of the company’s stock, valued at approximately $6,609,992.04. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $301,301.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Profile

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.