Meridian Wealth Management LLC Takes $450,000 Position in The Sherwin-Williams Company (NYSE:SHW)

25 Nov 2024, 05:14 by Teresa Graham · The Cerbat Gem

Meridian Wealth Management LLC purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,179 shares of the specialty chemicals company’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Griffin Asset Management Inc. raised its stake in shares of Sherwin-Williams by 0.3% during the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock valued at $3,548,000 after acquiring an additional 26 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Sherwin-Williams by 2.4% during the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after purchasing an additional 28 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Sherwin-Williams by 47.5% during the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Allworth Financial LP increased its position in shares of Sherwin-Williams by 1.8% during the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares in the last quarter. Finally, First Interstate Bank grew its holdings in shares of Sherwin-Williams by 1.9% during the third quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after buying an additional 28 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Up 1.3 %

SHW stock opened at $388.30 on Monday. The company has a market cap of $97.79 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 3.13 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a 12 month low of $272.34 and a 12 month high of $392.57. The firm has a 50-day moving average of $377.13 and a two-hundred day moving average of $344.54.

Sherwin-Williams (NYSE:SHW – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the company posted $3.20 EPS. The firm’s revenue was up .7% on a year-over-year basis. As a group, analysts forecast that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Royal Bank of Canada lowered their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets increased their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $396.47.

Read Our Latest Stock Analysis on Sherwin-Williams

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 18.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Company Profile

(Free Report)