New York State Teachers Retirement System Sells 8,602 Shares of The Sherwin-Williams Company (NYSE:SHW)

New York State Teachers Retirement System lowered its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,389 shares of the specialty chemicals company's stock after selling 8,602 shares during the period. New York State Teachers Retirement System owned about 0.07% of Sherwin-Williams worth $63,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Sherwin-Williams during the 4th quarter valued at $1,359,747,000. GAMMA Investing LLC boosted its stake in Sherwin-Williams by 41,717.1% in the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock valued at $571,381,000 after purchasing an additional 1,632,391 shares during the period. Capital Research Global Investors grew its holdings in Sherwin-Williams by 47.1% in the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock valued at $1,019,329,000 after buying an additional 960,724 shares in the last quarter. Barclays PLC increased its position in Sherwin-Williams by 54.2% during the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock worth $704,855,000 after buying an additional 728,798 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth $230,829,000. Institutional investors own 77.67% of the company's stock.

Analysts Set New Price Targets

SHW has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Citigroup cut Sherwin-Williams from a "buy" rating to a "neutral" rating and cut their target price for the stock from $405.00 to $385.00 in a research note on Friday, June 13th. UBS Group reduced their price objective on Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Bank of America boosted their target price on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research note on Monday, June 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has an average rating of "Moderate Buy" and an average target price of $391.31.

Sherwin-Williams Stock Down 0.8%

Shares of Sherwin-Williams stock traded down $2.69 on Wednesday, hitting $352.61. The company had a trading volume of 1,330,435 shares, compared to its average volume of 1,715,829. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The stock has a 50 day moving average of $350.09 and a 200-day moving average of $348.06. The Sherwin-Williams Company has a 1 year low of $293.56 and a 1 year high of $400.42. The stock has a market capitalization of $88.36 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 3.19 and a beta of 1.18.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.23 by $0.02. The firm had revenue of $5.31 billion for the quarter, compared to analysts' expectations of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 EPS. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, May 16th. Sherwin-Williams's dividend payout ratio (DPR) is currently 29.87%.

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.