Bank of Nova Scotia Sells 44,936 Shares of The Sherwin-Williams Company $SHW

Bank of Nova Scotia trimmed its position in The Sherwin-Williams Company (NYSE:SHW) by 21.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,795 shares of the specialty chemicals company’s stock after selling 44,936 shares during the quarter. Bank of Nova Scotia owned 0.07% of Sherwin-Williams worth $56,581,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC grew its holdings in Sherwin-Williams by 25.2% in the 2nd quarter. Cary Street Partners Financial LLC now owns 964 shares of the specialty chemicals company’s stock worth $331,000 after acquiring an additional 194 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Sherwin-Williams by 8.0% during the second quarter. Cerity Partners LLC now owns 84,366 shares of the specialty chemicals company’s stock valued at $28,968,000 after acquiring an additional 6,250 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Sherwin-Williams by 0.7% during the second quarter. Gamco Investors INC. ET AL now owns 8,669 shares of the specialty chemicals company’s stock worth $2,977,000 after purchasing an additional 57 shares during the period. Jump Financial LLC bought a new stake in shares of Sherwin-Williams in the second quarter worth about $1,210,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Sherwin-Williams by 1.9% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,680 shares of the specialty chemicals company’s stock valued at $577,000 after purchasing an additional 32 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $327.23 on Tuesday. The Sherwin-Williams Company has a twelve month low of $308.84 and a twelve month high of $385.90. The firm has a market cap of $81.12 billion, a P/E ratio of 31.93, a PEG ratio of 3.93 and a beta of 1.24. The company has a 50 day moving average of $337.73 and a 200 day moving average of $346.78. The company has a quick ratio of 0.52, a current ratio of 0.82 and a debt-to-equity ratio of 2.11.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.15. Sherwin-Williams had a net margin of 11.05% and a return on equity of 66.75%. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the firm earned $3.37 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sherwin-Williams has set its FY 2025 guidance at 11.250-11.450 EPS. As a group, research analysts expect that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $3.16 annualized dividend and a dividend yield of 1.0%. Sherwin-Williams’s payout ratio is presently 30.83%.

Analyst Ratings Changes

SHW has been the subject of several research analyst reports. Evercore ISI increased their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Citigroup reaffirmed a “neutral” rating and issued a $392.00 price target (up previously from $380.00) on shares of Sherwin-Williams in a research note on Thursday, October 30th. UBS Group reissued a “buy” rating and set a $422.00 price objective (up from $400.00) on shares of Sherwin-Williams in a research report on Wednesday, October 29th. Wells Fargo & Company set a $410.00 target price on shares of Sherwin-Williams and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Bank of America cut their target price on shares of Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.87.

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.