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

Bank of Nova Scotia decreased its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,795 shares of the specialty chemicals company’s stock after selling 44,936 shares during the period. Bank of Nova Scotia’s holdings in Sherwin-Williams were worth $56,581,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SHW. Johnson Investment Counsel Inc. increased its holdings in shares of Sherwin-Williams by 95.8% during the second quarter. Johnson Investment Counsel Inc. now owns 78,144 shares of the specialty chemicals company’s stock valued at $26,832,000 after acquiring an additional 38,228 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Sherwin-Williams during the 1st quarter valued at about $515,000. Moody Lynn & Lieberson LLC increased its stake in Sherwin-Williams by 138.0% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 20,402 shares of the specialty chemicals company’s stock valued at $7,005,000 after purchasing an additional 11,828 shares in the last quarter. Lindenwold Advisors INC purchased a new position in Sherwin-Williams in the second quarter worth about $1,303,000. Finally, Vanguard Group Inc. lifted its stake in shares of Sherwin-Williams by 1.1% in the second quarter. Vanguard Group Inc. now owns 22,328,552 shares of the specialty chemicals company’s stock worth $7,666,732,000 after buying an additional 246,008 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Price Performance

NYSE SHW opened at $327.23 on Tuesday. The company has a 50-day moving average price of $337.73 and a 200-day moving average price of $346.78. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $385.90. The company has a quick ratio of 0.52, a current ratio of 0.82 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $81.12 billion, a P/E ratio of 31.93, a PEG ratio of 3.93 and a beta of 1.24.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share (EPS) for the quarter, topping 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 last year, the firm posted $3.37 earnings per share. The firm’s revenue 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. Equities research analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHW shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Sherwin-Williams in a research report on Tuesday, December 2nd. Citigroup reissued a “neutral” rating and issued a $392.00 target price (up previously from $380.00) on shares of Sherwin-Williams in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on Sherwin-Williams from $378.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Wells Fargo & Company set a $410.00 price objective on Sherwin-Williams and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Evercore ISI boosted their target price on Sherwin-Williams from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.87.

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.