Bank of New York Mellon Corp Lowers Holdings in The Sherwin-Williams Company $SHW

Bank of New York Mellon Corp decreased its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,526,152 shares of the specialty chemicals company’s stock after selling 150,174 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Sherwin-Williams worth $524,020,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Synergy Investment Management LLC raised its stake in 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 buying an additional 70 shares during the last quarter. Valley National Advisers Inc. raised its stake in Sherwin-Williams by 68.0% during the second quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Sherwin-Williams during the second quarter valued at $31,000. Saudi Central Bank purchased a new position in Sherwin-Williams during the first quarter valued at $33,000. Finally, Flaharty Asset Management LLC purchased a new position in Sherwin-Williams during the first quarter valued at $33,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Sherwin-Williams from $378.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Sherwin-Williams in a research note on Wednesday, October 8th. Mizuho set a $400.00 price target on Sherwin-Williams in a research note on Wednesday, October 29th. Wells Fargo & Company set a $410.00 price target on Sherwin-Williams and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, UBS Group restated a “buy” rating and issued a $422.00 price target (up previously from $400.00) on shares of Sherwin-Williams in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $390.87.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $345.71 on Tuesday. The stock has a 50-day simple moving average of $347.86 and a two-hundred day simple moving average of $348.83. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.48 and a current ratio of 0.82. The firm has a market capitalization of $85.70 billion, a PE ratio of 33.73, a P/E/G ratio of 3.26 and a beta of 1.20.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. Sherwin-Williams’s revenue for the quarter was up 3.2% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.250-11.450 EPS. Analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Insider Activity

In other news, CAO James P. Lang sold 860 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 377 shares of the company’s stock, valued at $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Justin T. Binns sold 609 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the completion of the transaction, the insider directly owned 17,922 shares of the company’s stock, valued at approximately $6,609,992.04. This trade represents a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

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.