S&P 500 Dividend Aristocrats List: Sorted By Hedge Fund Sentiment

5. The Sherwin-Williams Company (NYSE:SHW)

Number of Hedge Fund Holders: 76

The Sherwin-Williams Company (NYSE:SHW) is an Ohio-based paint and coating manufacturing company that specializes in the manufacturing and production of related products. The stock is up by over 16% this year so far as consumers are moving toward smaller home improvement tasks that they previously overlooked after the pandemic. The consumer enthusiasm was seen in the company’s earnings for the second quarter of 2024. Driven by robust performance in the Paint Stores Group, the company successfully implemented its established strategy, resulting in consolidated sales that met expectations, expanded gross margins, increased EBITDA, and a 12.5% rise in adjusted diluted net income per share. Sales in the Paint Stores Group were notably higher, aligning with the midpoint of the company’s guidance, despite a challenging double-digit comparison. The company generated $6.2 billion in revenues, up modestly 0.5% from the same period last year.

The Sherwin-Williams Company (NYSE:SHW), one of the best dividend aristocrat stocks, currently pays a quarterly dividend of $0.715 per share. The company holds a 45-year track record of consistent dividend growth. In the first six months of 2024, the company returned $1.34 billion to shareholders through dividends and share repurchases. The stock’s dividend yield on August 19 came in at 0.81%.

Although The Sherwin-Williams Company (NYSE:SHW) may not achieve the explosive growth seen in cutting-edge tech stocks, its earnings have demonstrated strong performance. The company is showing resilience in a difficult market. For investors looking for stability in their portfolios, the company presents a compelling choice.

According to Insider Monkey’s database of Q2 2024, 76 hedge funds held stakes in The Sherwin-Williams Company (NYSE:SHW), down slightly from 78 in the previous quarter. These stakes are worth over $4.05 billion in total. Among these hedge funds, D E Shaw was the company’s largest stakeholder in Q2.