Sherwin-Williams (NYSE:SHW) Announces Quarterly Earnings Results

Sherwin-Williams (NYSE:SHWGet Rating) announced its quarterly earnings results on Wednesday. The specialty chemicals company reported $2.41 EPS for the quarter, missing the consensus estimate of $2.78 by ($0.37), Briefing.com reports. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Sherwin-Williams had a return on equity of 80.22% and a net margin of 9.00%. The firm’s revenue for the quarter was down 46.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.65 EPS. Sherwin-Williams updated its FY22 guidance to $8.50-8.80 EPS.

Sherwin-Williams Trading Up 4.4 %

SHW stock traded up $10.21 during trading on Thursday, reaching $242.18. 88,796 shares of the stock were exchanged, compared to its average volume of 1,746,436. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 3.85. The business has a 50 day moving average price of $246.84 and a 200-day moving average price of $261.13. Sherwin-Williams has a 1 year low of $214.22 and a 1 year high of $354.15. The firm has a market capitalization of $63.00 billion, a price-to-earnings ratio of 35.42, a P/E/G ratio of 2.24 and a beta of 1.06.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, August 18th. Sherwin-Williams’s dividend payout ratio is currently 34.99%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Justin T. Binns sold 1,542 shares of Sherwin-Williams stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $259.99, for a total transaction of $400,904.58. Following the completion of the sale, the insider now directly owns 6,877 shares in the company, valued at $1,787,951.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC grew its holdings in shares of Sherwin-Williams by 38.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,585 shares of the specialty chemicals company’s stock valued at $895,000 after purchasing an additional 989 shares in the last quarter. Eudaimonia Partners LLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter worth approximately $882,000. Walleye Capital LLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter worth approximately $784,000. Continuum Advisory LLC lifted its position in shares of Sherwin-Williams by 54.2% during the 1st quarter. Continuum Advisory LLC now owns 2,705 shares of the specialty chemicals company’s stock worth $744,000 after buying an additional 951 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Sherwin-Williams by 10.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,663 shares of the specialty chemicals company’s stock worth $664,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHW. StockNews.com began coverage on shares of Sherwin-Williams in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays cut their price target on shares of Sherwin-Williams from $320.00 to $303.00 in a report on Monday, May 2nd. Bank of America downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and cut their price target for the company from $313.00 to $292.00 in a report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sherwin-Williams from $315.00 to $275.00 in a report on Thursday. Finally, Wells Fargo & Company dropped their target price on shares of Sherwin-Williams from $270.00 to $250.00 and set a “maintains” rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $305.55.

Sherwin-Williams Company Profile

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The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.

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Earnings History for Sherwin-Williams (NYSE:SHW)

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