Sherwin-Williams (SHW) Set to Announce Quarterly Earnings on Tuesday

Sherwin-Williams (NYSE:SHW) is scheduled to be announcing its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.24 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $10.85-11.35 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data 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 analyst estimates of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. On average, analysts expect Sherwin-Williams to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Sherwin-Williams Trading Down 1.3 %

Shares of SHW opened at $313.97 on Tuesday. The firm has a 50 day moving average price of $328.68 and a 200-day moving average price of $296.45. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.48 and a current ratio of 0.83. The firm has a market cap of $79.89 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.52 and a beta of 1.15.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were issued a dividend of $0.715 per share. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.61. This represents a $2.86 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Friday, February 23rd. Sherwin-Williams’s dividend payout ratio is currently 30.92%.

Insider Transactions at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the sale, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 in the last quarter. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHW. Norges Bank bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $498,336,000. Morgan Stanley raised its stake in Sherwin-Williams by 50.9% during the 4th quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock worth $1,229,386,000 after acquiring an additional 1,747,586 shares during the period. Renaissance Technologies LLC raised its stake in Sherwin-Williams by 612.8% during the 1st quarter. Renaissance Technologies LLC now owns 545,300 shares of the specialty chemicals company’s stock worth $122,567,000 after acquiring an additional 468,800 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Sherwin-Williams by 775.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 509,706 shares of the specialty chemicals company’s stock worth $127,233,000 after acquiring an additional 451,493 shares during the period. Finally, Two Sigma Investments LP raised its stake in Sherwin-Williams by 1,034.8% during the 1st quarter. Two Sigma Investments LP now owns 465,665 shares of the specialty chemicals company’s stock worth $104,668,000 after acquiring an additional 424,630 shares during the period. Institutional investors own 77.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHW shares. Wolfe Research started coverage on shares of Sherwin-Williams in a report on Friday, March 1st. They set a “peer perform” rating for the company. Seaport Res Ptn downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. UBS Group raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and upped their target price for the stock from $312.00 to $402.00 in a research report on Thursday, March 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $300.00 target price (up from $270.00) on shares of Sherwin-Williams in a research report on Wednesday, January 3rd. Finally, Northcoast Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price objective on the stock in a research report on Tuesday, February 27th. 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 stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus price target of $326.50.

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.