New York State Common Retirement Fund Cuts Holdings in The Sherwin-Williams Company (NYSE:SHW)

New York State Common Retirement Fund lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 7.6% in the third quarter, Holdings Channel reports. The institutional investor owned 305,636 shares of the specialty chemicals company’s stock after selling 25,005 shares during the period. New York State Common Retirement Fund’s holdings in Sherwin-Williams were worth $116,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SHW. Valued Wealth Advisors LLC boosted its position in Sherwin-Williams by 88.9% during the third quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 32 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Sherwin-Williams by 47.5% during the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 45 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in shares of Sherwin-Williams by 136.4% during the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares in the last quarter. Finally, VitalStone Financial LLC lifted its holdings in shares of Sherwin-Williams by 233.3% during the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SHW has been the topic of several recent analyst reports. Evercore ISI reduced their target price on Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. Morgan Stanley increased their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price target on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and a consensus price target of $395.29.

Sherwin-Williams Trading Down 0.2 %

Shares of NYSE:SHW opened at $357.97 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a 12-month low of $240.00 and a 12-month high of $392.57. The business has a 50 day moving average of $372.36 and a two-hundred day moving average of $336.38. The company has a market capitalization of $90.16 billion, a PE ratio of 35.65, a PEG ratio of 2.92 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.20 earnings per share. As a group, analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 28.49%.

About Sherwin-Williams

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.