Panagora Asset Management Inc. Sells 773 Shares of The Sherwin-Williams Company (NYSE:SHW)

Posted by on Jun 12th, 2023

Panagora Asset Management Inc. trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW – Get Rating) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,835 shares of the specialty chemicals company’s stock after selling 773 shares during the quarter. Panagora Asset Management Inc.’s holdings in Sherwin-Williams were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Sherwin-Williams by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,105,942 shares of the specialty chemicals company’s stock valued at $972,348,000 after purchasing an additional 103,676 shares during the period. Clearbridge Investments LLC lifted its position in Sherwin-Williams by 6.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,181,355 shares of the specialty chemicals company’s stock valued at $517,701,000 after purchasing an additional 131,444 shares during the period. Sustainable Growth Advisers LP lifted its position in Sherwin-Williams by 8.8% during the 4th quarter. Sustainable Growth Advisers LP now owns 1,311,604 shares of the specialty chemicals company’s stock valued at $311,283,000 after purchasing an additional 105,705 shares during the period. Farallon Capital Management LLC boosted its position in shares of Sherwin-Williams by 20.4% in the 3rd quarter. Farallon Capital Management LLC now owns 1,279,492 shares of the specialty chemicals company’s stock worth $261,976,000 after purchasing an additional 216,900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sherwin-Williams by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,240,241 shares of the specialty chemicals company’s stock worth $309,590,000 after purchasing an additional 27,057 shares during the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Price Performance

Shares of SHW traded up $0.63 during trading hours on Monday, hitting $241.39. 261,472 shares of the company were exchanged, compared to its average volume of 1,509,386. The company has a market cap of $62.25 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.52 and a beta of 1.07. The Sherwin-Williams Company has a fifty-two week low of $195.24 and a fifty-two week high of $265.64. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 3.03. The firm’s fifty day moving average is $230.68 and its 200 day moving average is $233.04.

Sherwin-Williams (NYSE:SHW – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The specialty chemicals company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. Sherwin-Williams had a return on equity of 86.29% and a net margin of 9.41%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the company earned $1.61 EPS. Sherwin-Williams’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that The Sherwin-Williams Company will post 8.7 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were given a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, May 18th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 29.69%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SHW shares. Barclays raised their price target on Sherwin-Williams from $220.00 to $240.00 in a research report on Thursday, April 27th. Jefferies Financial Group upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $275.00 in a report on Wednesday, May 24th. Mizuho boosted their price objective on shares of Sherwin-Williams from $263.00 to $268.00 in a report on Wednesday, April 26th. StockNews.com started coverage on shares of Sherwin-Williams in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Sherwin-Williams from $260.00 to $265.00 in a report on Thursday, April 27th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.58.

About Sherwin-Williams

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The Sherwin-Williams Co engages in the development, manufacture, distribution, and sale of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor coverings.

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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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