121,280 The Sherwin-Williams Company $SHW Shares Sold by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama cut its Sherwin-Williams stake by 71.7%, selling 121,280 shares in the third quarter; it retained 47,855 shares valued at about $15.47 million.
• Analysts give the stock a consensus “Moderate Buy” rating and a $377.29 average price target, with 15 Buy ratings and 12 Hold ratings.
• In its latest quarter, Sherwin-Williams reported revenue of $6.86 billion, up 7.9% year over year and above estimates, while earnings of $3.63 per share narrowly missed expectations.

Retirement Systems of Alabama cut its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 71.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,855 shares of the specialty chemicals company's stock after selling 121,280 shares during the period. Retirement Systems of Alabama's holdings in Sherwin-Williams were worth $15,470,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SHW. Milestone Asset Management LLC bought a new stake in Sherwin-Williams during the third quarter valued at approximately $3,153,000. Caisse de depot et placement du Quebec bought a new stake in shares of Sherwin-Williams during the 2nd quarter valued at $5,473,000. William John Sempolinski purchased a new stake in shares of Sherwin-Williams in the 2nd quarter worth $2,456,000. BlackRock Inc. purchased a new stake in Sherwin-Williams in the 2nd quarter worth approximately $6,100,083,000. Finally, First Citizens Bank & Trust Co. increased its holdings in Sherwin-Williams by 421.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,309 shares of the specialty chemicals company's stock worth $1,393,000 after acquiring an additional 3,483 shares in the last quarter. Institutional investors own 77.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SHW shares. Morgan Stanley restated an "overweight" rating and set a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Argus upped their target price on shares of Sherwin-Williams from $355.00 to $380.00 in a research report on Thursday, August 27th. Jefferies Financial Group reaffirmed a "hold" rating and set a $353.00 target price on shares of Sherwin-Williams in a research note on Tuesday, October 27th. Barclays set a $329.00 price objective on Sherwin-Williams and gave the company an "equal weight" rating in a research report on Wednesday, October 28th. Finally, Wells Fargo & Company set a $340.00 price target on Sherwin-Williams and gave the company an "equal weight" rating in a report on Friday, September 25th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.29.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $350.81 on Friday. The firm has a market capitalization of $84.75 billion, a PE ratio of 32.24, a PEG ratio of 2.96 and a beta of 1.05. The stock's fifty day moving average is $331.16 and its 200 day moving average is $333.11. The Sherwin-Williams Company has a fifty-two week low of $289.86 and a fifty-two week high of $377.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.45 and a current ratio of 0.71.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 EPS for the quarter, missing the consensus estimate of $3.69 by ($0.06). The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.78 billion. Sherwin-Williams had a net margin of 10.74% and a return on equity of 69.51%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.59 earnings per share. On average, sell-side analysts anticipate that The Sherwin-Williams Company will post 12.02 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Sherwin-Williams's payout ratio is currently 29.41%.

Insider Buying and Selling

In other Sherwin-Williams news, insider Justin T. Binns sold 13,500 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $352.70, for a total value of $4,761,450.00. Following the completion of the sale, the insider directly owned 21,937 shares of the company's stock, valued at $7,737,179.90. The trade was a 38.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James R. Jaye sold 2,301 shares of the firm's stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $345.56, for a total value of $795,133.56. Following the transaction, the senior vice president owned 6,936 shares in the company, valued at $2,396,804.16. The trade was a 24.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,315 shares of company stock worth $7,848,071 over the last ninety days. 0.23% of the stock is owned by insiders.

Sherwin-Williams Company Profile

The Sherwin-Williams Company is a global manufacturer, retailer and distributor of paints and coatings. Founded in 1866 and headquartered in Cleveland, Ohio, the company serves customers through company-operated paint stores, home improvement retailers, distributors and other channels. Its products include paints, stains and related supplies for homes and commercial buildings, as well as coatings for industrial, automotive, protective and marine applications. The company markets products under brands including Sherwin-Williams and Valspar.

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