Adage Capital Partners GP L.L.C. Cuts Stock Holdings in The Sherwin-Williams Company $SHW

Adage Capital Partners GP L.L.C. cut its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 72.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,806 shares of the specialty chemicals company's stock after selling 378,100 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Sherwin-Williams worth $49,866,000 at the end of the most recent reporting period.

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Other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in Sherwin-Williams in the fourth quarter valued at about $27,000. Perkins Coie Trust Co purchased a new position in Sherwin-Williams in the first quarter valued at about $27,000. Synergy Investment Management LLC increased its holdings in Sherwin-Williams by 583.3% in 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 in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Sherwin-Williams in the first quarter valued at about $30,000. Finally, Saudi Central Bank purchased a new position in Sherwin-Williams in the first quarter valued at about $33,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHW. Evercore ISI increased their target price 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. Loop Capital lowered their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets lowered their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Mizuho lowered their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company lowered their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $387.27.

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Read Our Latest Stock Analysis on Sherwin-Williams

Insider Buying and Selling

In related news, insider Justin T. Binns sold 609 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the sale, the insider owned 17,922 shares in the company, valued at approximately $6,609,992.04. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James P. Lang sold 860 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. This trade represents a 69.52% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Stock Up 0.3%

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Shares of NYSE SHW opened at $361.91 on Thursday. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42. The firm's 50 day moving average price is $351.80 and its 200 day moving average price is $348.47. The firm has a market cap of $90.24 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 3.04 and a beta of 1.18. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) 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 firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter last year, the business posted $3.70 EPS. The firm's revenue was up .6% compared to the same quarter last year. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is 31.35%.

Sherwin-Williams Company 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.

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