State of Michigan Retirement System Trims Stock Holdings in The Sherwin-Williams Company $SHW

State of Michigan Retirement System cut its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,256 shares of the specialty chemicals company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Sherwin-Williams were worth $22,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SHW. Valley National Advisers Inc. grew its stake in shares of Sherwin-Williams by 68.0% during the 2nd quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 34 shares during the period. Synergy Investment Management LLC raised its holdings in shares of Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 70 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Sherwin-Williams in the 2nd quarter worth about $31,000. Saudi Central Bank purchased a new position in shares of Sherwin-Williams in the 1st quarter worth about $33,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Sherwin-Williams in the 1st quarter worth about $33,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Price Performance

SHW stock opened at $344.86 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.82 and a debt-to-equity ratio of 2.11. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42. The stock’s 50 day moving average is $348.29 and its two-hundred day moving average is $348.74. The company has a market capitalization of $85.49 billion, a PE ratio of 33.64, a P/E/G ratio of 3.26 and a beta of 1.20.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.44 by $0.15. Sherwin-Williams had a return on equity of 66.75% and a net margin of 11.05%.The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the firm earned $3.37 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.250-11.450 EPS. Analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, November 14th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams’s payout ratio is currently 30.83%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SHW shares. Bank of America cut their price objective on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on Sherwin-Williams from $378.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Loop Capital cut their price objective on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $405.00 price objective on Sherwin-Williams and gave the stock an “outperform” rating in a report on Wednesday. Finally, Mizuho set a $400.00 price objective on Sherwin-Williams in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $390.87.

Insider Buying and Selling

In related news, CAO James P. Lang sold 860 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the completion of the transaction, the chief accounting officer owned 377 shares in the company, valued at $132,081.95. The trade was a 69.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justin T. Binns sold 609 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the transaction, the insider owned 17,922 shares of the company’s stock, valued at $6,609,992.04. This trade represents a 3.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

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.