Palumbo Wealth Management LLC Has $3.01 Million Position in The Sherwin-Williams Company $SHW

Palumbo Wealth Management LLC raised its stake in The Sherwin-Williams Company (NYSE:SHW) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,779 shares of the specialty chemicals company’s stock after buying an additional 88 shares during the quarter. Sherwin-Williams accounts for about 0.9% of Palumbo Wealth Management LLC’s holdings, making the stock its 27th biggest position. Palumbo Wealth Management LLC’s holdings in Sherwin-Williams were worth $3,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHW. Pitti Group Wealth Management LLC boosted its stake in shares of Sherwin-Williams by 5.4% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 806 shares of the specialty chemicals company’s stock valued at $277,000 after buying an additional 41 shares during the period. Spectrum Planning & Advisory Services Inc. purchased a new stake in shares of Sherwin-Williams during the second quarter worth $347,000. Mather Group LLC. boosted its position in Sherwin-Williams by 2.3% during the second quarter. Mather Group LLC. now owns 2,024 shares of the specialty chemicals company’s stock valued at $695,000 after purchasing an additional 45 shares during the last quarter. Lynch & Associates IN boosted its position in Sherwin-Williams by 1.7% during the second quarter. Lynch & Associates IN now owns 5,653 shares of the specialty chemicals company’s stock valued at $1,941,000 after purchasing an additional 92 shares during the last quarter. Finally, IMS Capital Management purchased a new position in Sherwin-Williams in the second quarter valued at about $456,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHW. JPMorgan Chase & Co. cut their price target on Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. 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. Bank of America upgraded shares of Sherwin-Williams from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $296.00 to $375.00 in a research note on Thursday, August 14th. Wells Fargo & Company dropped 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 note on Wednesday, July 23rd. Finally, Loop Capital cut their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $387.27.

Insider Activity

In related news, CAO James P. Lang sold 860 shares of the 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 completion of the sale, the chief accounting officer owned 377 shares in the company, valued at $132,081.95. This represents a 69.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $224,611.38. Following the completion of the sale, the insider directly owned 17,922 shares in the company, valued at $6,609,992.04. This trade represents a 3.29% decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Trading Down 0.5%

Shares of SHW stock opened at $342.68 on Thursday. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42. The company has a market cap of $85.44 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.18. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $354.76 and its two-hundred day moving average is $348.63.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $6.31 billion. During the same period in the prior year, the company posted $3.70 earnings per share. Sherwin-Williams’s quarterly revenue was up .6% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. Equities analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid a $0.79 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams’s payout ratio is presently 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.