State of New Jersey Common Pension Fund D Has $28.54 Million Holdings in The Sherwin-Williams Company $SHW

State of New Jersey Common Pension Fund D boosted its stake in The Sherwin-Williams Company (NYSE:SHW) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,422 shares of the specialty chemicals company’s stock after purchasing an additional 2,268 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sherwin-Williams were worth $28,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Sherwin-Williams during the second quarter valued at approximately $1,296,565,000. Viking Global Investors LP boosted its position in shares of Sherwin-Williams by 101.4% during the second quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company’s stock worth $672,213,000 after purchasing an additional 985,520 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Sherwin-Williams by 4,029.8% in the 2nd quarter. Bessemer Group Inc. now owns 621,532 shares of the specialty chemicals company’s stock valued at $213,410,000 after buying an additional 606,482 shares during the period. Amundi grew its holdings in shares of Sherwin-Williams by 55.8% in the 2nd quarter. Amundi now owns 1,665,333 shares of the specialty chemicals company’s stock valued at $587,047,000 after buying an additional 596,657 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Sherwin-Williams by 22.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,039,306 shares of the specialty chemicals company’s stock valued at $1,043,595,000 after buying an additional 553,275 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SHW shares. UBS Group set a $420.00 target price on Sherwin-Williams in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on Sherwin-Williams from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Sherwin-Williams from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Mizuho cut their price target on shares of Sherwin-Williams from $400.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, December 18th. Finally, Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a report on Monday, January 19th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus target price of $386.33.

Sherwin-Williams Price Performance

Shares of SHW opened at $368.74 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The Sherwin-Williams Company has a twelve month low of $308.84 and a twelve month high of $379.65. The stock has a market capitalization of $91.41 billion, a P/E ratio of 35.90, a P/E/G ratio of 3.19 and a beta of 1.25. The company has a 50 day moving average of $342.99 and a 200-day moving average of $345.63.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.16 by $0.07. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Insider Activity

In related news, insider Colin M. Davie sold 2,976 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the transaction, the insider directly owned 5,365 shares of the company’s stock, valued at approximately $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.