Seaport Res Ptn Brokers Reduce Earnings Estimates for The Sherwin-Williams Company (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Seaport Res Ptn cut their Q2 2024 EPS estimates for Sherwin-Williams in a research report issued on Tuesday, April 23rd. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $3.44 per share for the quarter, down from their prior estimate of $3.51. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.44 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.52 EPS, Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $11.25 EPS, Q3 2025 earnings at $3.99 EPS and FY2025 earnings at $12.71 EPS.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company upped their price objective on Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Northcoast Research raised Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Tuesday, February 27th. KeyCorp raised shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 target price for the company in a research note on Thursday. Barclays upped their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada lowered their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $337.37.

Sherwin-Williams Trading Up 0.5 %

SHW opened at $306.45 on Friday. The firm’s fifty day simple moving average is $328.05 and its 200 day simple moving average is $299.19. The stock has a market capitalization of $77.98 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.41 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the firm posted $2.04 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s payout ratio is currently 30.49%.

Insider Transactions at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mary L. Garceau sold 23,518 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the transaction, the senior vice president now owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 in the last 90 days. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of SHW. Exchange Traded Concepts LLC boosted its position in shares of Sherwin-Williams by 9,310.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 941 shares of the specialty chemicals company’s stock valued at $240,000 after acquiring an additional 931 shares during the last quarter. Caprock Group LLC raised its position in shares of Sherwin-Williams by 6.0% during the 3rd quarter. Caprock Group LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $907,000 after buying an additional 201 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Sherwin-Williams by 3.0% during the 3rd quarter. UMB Bank n.a. now owns 11,393 shares of the specialty chemicals company’s stock worth $2,906,000 after acquiring an additional 336 shares during the last quarter. Oak Thistle LLC purchased a new position in Sherwin-Williams in the third quarter worth $353,000. Finally, Czech National Bank increased its stake in Sherwin-Williams by 48.8% in the third quarter. Czech National Bank now owns 41,348 shares of the specialty chemicals company’s stock valued at $10,546,000 after acquiring an additional 13,558 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.