New York State Teachers Retirement System Sells 7,508 Shares of The Sherwin-Williams Company (NYSE:SHW)

New York State Teachers Retirement System reduced its stake in The Sherwin-Williams Company (NYSE:SHW) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,184 shares of the specialty chemicals company’s stock after selling 7,508 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Sherwin-Williams worth $74,878,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. 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 purchasing an additional 45 shares during the period. Semmax Financial Advisors Inc. lifted its stake in shares of Sherwin-Williams by 136.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 60 shares during the last quarter. VitalStone Financial LLC grew its holdings in 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. GHP Investment Advisors Inc. raised its holdings in shares of Sherwin-Williams by 47.5% in the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 28 shares during the period. Finally, Anfield Capital Management LLC purchased a new stake in Sherwin-Williams during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Price Performance

Sherwin-Williams stock traded up $3.40 during mid-day trading on Wednesday, hitting $365.02. 96,552 shares of the company were exchanged, compared to its average volume of 1,531,062. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The company has a market capitalization of $92.55 billion, a P/E ratio of 38.55, a PEG ratio of 2.89 and a beta of 1.17. The Sherwin-Williams Company has a 12-month low of $235.84 and a 12-month high of $392.57. The business’s 50 day simple moving average is $372.27 and its two-hundred day simple moving average is $335.73.

Sherwin-Williams (NYSE:SHW) last released its quarterly 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 for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. Sherwin-Williams’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 earnings per share. Analysts forecast that The Sherwin-Williams Company will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.78%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Analysts Set New Price Targets

SHW has been the subject of several recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Citigroup dropped their price target on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.29.

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.