Seaport Res Ptn Comments on The Sherwin-Williams Company’s Q1 2024 Earnings (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Equities research analysts at Seaport Res Ptn upped their Q1 2024 earnings per share (EPS) estimates for shares of Sherwin-Williams in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $2.20 per share for the quarter, up from their prior forecast of $2.15. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.46 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $11.37 EPS.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. Sherwin-Williams’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS.

A number of other equities analysts have also recently weighed in on SHW. Citigroup upped their price target on Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada reduced their target price on Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Northcoast Research upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Tuesday, February 27th. Robert W. Baird reiterated a “neutral” rating and set a $300.00 target price (up from $270.00) on shares of Sherwin-Williams in a research note on Wednesday, January 3rd. Finally, UBS Group upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their target price for the company from $312.00 to $402.00 in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.94.

Sherwin-Williams Stock Down 1.1 %

NYSE SHW opened at $305.96 on Thursday. The stock has a market cap of $77.86 billion, a PE ratio of 33.08, a P/E/G ratio of 2.46 and a beta of 1.15. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37. The business has a 50 day moving average price of $328.52 and a two-hundred day moving average price of $297.37. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors have recently bought and sold shares of SHW. Roundview Capital LLC boosted its position in Sherwin-Williams by 8.1% during the 1st quarter. Roundview Capital LLC now owns 8,065 shares of the specialty chemicals company’s stock worth $2,013,000 after acquiring an additional 607 shares during the period. Cibc World Market Inc. boosted its position in Sherwin-Williams by 189.1% during the 1st quarter. Cibc World Market Inc. now owns 10,409 shares of the specialty chemicals company’s stock worth $2,598,000 after acquiring an additional 6,808 shares during the period. Sei Investments Co. raised its stake in shares of Sherwin-Williams by 26.5% during the 1st quarter. Sei Investments Co. now owns 118,763 shares of the specialty chemicals company’s stock worth $29,956,000 after purchasing an additional 24,884 shares in the last quarter. Prudential PLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter worth about $1,231,000. Finally, Cetera Investment Advisers raised its stake in shares of Sherwin-Williams by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 11,387 shares of the specialty chemicals company’s stock worth $2,842,000 after purchasing an additional 287 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sherwin-Williams

In related news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the sale, the senior vice president now directly owns 28,475 shares in the company, valued at approximately $9,187,743.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock worth $10,340,237 in the last quarter. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is 30.92%.

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.