The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its stake in The Sherwin-Williams Company (NYSE:SHW) by 20.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,600 shares of the specialty chemicals company’s stock after selling 10,043 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Sherwin-Williams were worth $11,519,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Sherwin-Williams by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after acquiring an additional 184,979 shares during the last quarter. Capital World Investors increased its stake in Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after buying an additional 1,075,351 shares during the period. Norges Bank purchased a new stake in Sherwin-Williams during the 4th quarter worth approximately $1,176,356,000. Clearbridge Investments LLC increased its stake in Sherwin-Williams by 4.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock worth $866,862,000 after buying an additional 116,647 shares during the period. Finally, Capital Research Global Investors increased its stake in Sherwin-Williams by 2.3% during the 4th quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock worth $791,008,000 after buying an additional 56,161 shares during the period. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Stock Up 0.9 %

SHW stock opened at $363.90 on Tuesday. The Sherwin-Williams Company has a one year low of $232.06 and a one year high of $371.19. The stock has a market capitalization of $91.80 billion, a PE ratio of 38.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The company has a fifty day moving average of $340.58 and a 200-day moving average of $325.35.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the business earned $3.29 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts expect that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Insider Activity at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHW. BMO Capital Markets reaffirmed an “outperform” rating and set a $400.00 target price (up from $386.00) on shares of Sherwin-Williams in a research note on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Robert W. Baird increased their price objective on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. UBS Group increased their price objective on shares of Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Barclays increased their price objective on shares of Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.68.

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.