Public Employees Retirement Association of Colorado Decreases Position in Sherwin-Williams Co (NYSE:SHW)

Public Employees Retirement Association of Colorado cut its position in Sherwin-Williams Co (NYSE:SHW) by 0.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 120,458 shares of the specialty chemicals company’s stock after selling 217 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Sherwin-Williams were worth $66,236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SHW. Freestone Capital Holdings LLC purchased a new position in shares of Sherwin-Williams during the second quarter valued at approximately $315,000. Boston Family Office LLC raised its holdings in shares of Sherwin-Williams by 0.4% during the second quarter. Boston Family Office LLC now owns 9,051 shares of the specialty chemicals company’s stock valued at $4,148,000 after purchasing an additional 36 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Sherwin-Williams by 9.5% during the second quarter. First Citizens Bank & Trust Co. now owns 2,888 shares of the specialty chemicals company’s stock valued at $1,324,000 after purchasing an additional 251 shares during the last quarter. Condor Capital Management raised its holdings in shares of Sherwin-Williams by 1.5% during the second quarter. Condor Capital Management now owns 3,272 shares of the specialty chemicals company’s stock valued at $1,500,000 after purchasing an additional 47 shares during the last quarter. Finally, Waddell & Reed Financial Inc. raised its holdings in shares of Sherwin-Williams by 9.0% during the second quarter. Waddell & Reed Financial Inc. now owns 285,267 shares of the specialty chemicals company’s stock valued at $130,735,000 after purchasing an additional 23,655 shares during the last quarter. 76.66% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on SHW. Citigroup boosted their price objective on shares of Sherwin-Williams from $525.00 to $631.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank boosted their price objective on shares of Sherwin-Williams from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Credit Suisse Group boosted their price objective on shares of Sherwin-Williams from $587.00 to $610.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. KeyCorp boosted their price objective on shares of Sherwin-Williams from $500.00 to $525.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Sherwin-Williams from $490.00 to $560.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $579.59.

In other Sherwin-Williams news, SVP Thomas P. Gilligan sold 4,250 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $570.10, for a total value of $2,422,925.00. Following the completion of the transaction, the senior vice president now directly owns 8,189 shares in the company, valued at $4,668,548.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

SHW stock traded up $11.89 during midday trading on Friday, reaching $581.35. 368,711 shares of the company’s stock traded hands, compared to its average volume of 570,112. Sherwin-Williams Co has a 52-week low of $365.20 and a 52-week high of $589.00. The stock has a market cap of $52.57 billion, a P/E ratio of 31.37, a PEG ratio of 2.24 and a beta of 1.27. The company has a current ratio of 1.01, a quick ratio of 0.63 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average is $559.37 and its 200 day moving average is $499.32.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $6.65 EPS for the quarter, beating the Zacks’ consensus estimate of $6.46 by $0.19. Sherwin-Williams had a net margin of 7.81% and a return on equity of 50.96%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the company earned $5.68 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts expect that Sherwin-Williams Co will post 21.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $1.13 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.78%. Sherwin-Williams’s payout ratio is currently 24.39%.

Sherwin-Williams Company Profile

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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