Kesler Norman & Wride LLC is a prominent institutional investor that has increased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 67.7% during the fourth quarter, according to its latest disclosure with the SEC. As per this disclosure, Kesler Norman & Wride LLC owns 6,781 shares of the specialty chemicals company’s stock after purchasing an additional 2,737 shares during Q4 of FY2023.
The total holdings of Kesler Norman & Wride LLC in Sherwin-Williams were valued at $1,609,000 as of its recent filing with the SEC. This move indicates that this institutional investor has faith in SHW’s growth potential and long-term financial stability.
In related news, SVP Bryan J. Young sold 2,750 shares of SHW’s stock on February 23rd at an average price of $220.76. This transaction was valued at $607,090.00 and equates to Mr. Young retaining direct ownership of only 7,955 shares in the company with an estimated value of approximately $1,756,145 as per his most recent filing with the SEC.
This sale was disclosed in a document filed with the Securities & Exchange Commission that is available for review on the SEC website. It highlights that company insiders currently own only 0.55% of SHW’s stock.
On Friday April 29th , SHW’s stock traded up by $1.37 to reach $234.06 per share with trading volume being reported at 269,404 shares compared to its average daily trading volume of 1,549,917 shares . The fifty day moving average price stands at $222.83 whereas the two-hundred day moving average price sits at $230.77 for SHW.
Despite experiencing ups and downs over time due to market fluctuations and external factors influencing investment sentiments; The Sherwin-Williams Company has shown resilience in its performance as it continues to maintain a market-cap of $60.36 billion, satisfying financial ratios, and exhibits price-earnings ratios of 28.55 with peg ratios of 2.60 alongside a beta of 1.07.
The Sherwin-Williams Company’s commitment towards the provision of high-quality products and services has made it a reputable player within the specialty chemicals industry that promises promising growth prospects for investors with deep-pocketed institutional investors like Kesler Norman & Wride LLC continuing to show unwavering confidence by increasing their positions in the company’s shares.
Investment and Trading Activities Surrounding Sherwin-Williams on NYSE
Sherwin-Williams, the specialty chemicals company traded on the NYSE, has seen a number of changes to its stock holdings by large investors in recent months. Among them are Apella Capital LLC, which raised its holdings by 3.3% during 4Q 2023 by purchasing an additional 44 shares, and Optas LLC, which increased its holdings by 2% during 3Q 2023 with another fifty shares bought. US Capital Wealth Advisors and Sargent Bickham Lagudis raised their holdings by nearly the same percentage during various quarters, while Clarius Group increased its share amount by 1.7%. Altogether, hedge funds and institutional investors currently own over three-quarters of Sherwin-William’s stock.
Several stock analysts have commented on SHW shares also. While one research analyst rated the stock as “sell” for this fiscal year at least seven other analysts gave hold ratings and twelve have rated it a buy throughout this year so far according to Bloomberg data analytics. That data also indicates that the consensus rating for the specialty chemical firm is “moderate buy” with a target price of $257.83 per share. Citigroup lowered their target price from $270 to $251 and set a “neutral” rating for the company in January 2023.
As far as insider trading action goes, Senior Vice President Bryan J Young sold off a total of 2,750 shares in February for around $220 each with a net total valued at over $607K after both taxes as well as fees applied to his compensation account. Following that transaction he still owns almost eight thousand shares directly within Sherwin-Williams Company itself according to corporate filings available on the SEC’s website.
The company’s most up-to-date earnings report was filed last April where it listed revenue for Q1 at roughly over $5B or almost nine percent higher compared to the previous year while earnings per share, or EPS, reached $2.04 for the same time period; a 26% bump from last year’s first quarter earnings of $1.61 according to Bloomberg data analytics. All in all, industry analysts predict that Sherwin-Williams may see a total of about $8.5 EPS by the end of this fiscal year, assuming no other external factors occur which could lead to changes in their current outlook.
Lastly, the company declared a quarterly dividend payment that will take place on June 2nd where stockholders on record at close of business on May 19th will receive a payment total equating to around $0.60 per share. This payout currently represents an annualized yield rate of about 1%.
