The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has significantly reduced its position in Sherwin-Williams by 67%, leaving it with 30,516 shares valued at approximately $10.66 million.
• Several hedge funds have recently entered or adjusted their positions in Sherwin-Williams, collectively owning 77.67% of the company's stock.
• Analysts have set mixed price targets for Sherwin-Williams shares, with the stock currently holding an average rating of "Moderate Buy" and an average price target of $383.33.

Public Sector Pension Investment Board lowered its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 67.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,516 shares of the specialty chemicals company's stock after selling 61,961 shares during the quarter. Public Sector Pension Investment Board's holdings in Sherwin-Williams were worth $10,656,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after acquiring an additional 1,632,391 shares during the period. Capital Research Global Investors lifted its position in Sherwin-Williams by 47.1% during the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after acquiring an additional 960,724 shares during the period. Nuveen LLC acquired a new stake in Sherwin-Williams during the 1st quarter worth approximately $265,510,000. Northern Trust Corp lifted its position in Sherwin-Williams by 28.0% during the 4th quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after acquiring an additional 595,586 shares during the period. Finally, National Bank of Canada FI lifted its position in Sherwin-Williams by 223.1% during the 1st quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company's stock worth $214,883,000 after acquiring an additional 424,930 shares during the period. Hedge funds and other institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the transaction, the chief accounting officer directly owned 377 shares of the company's stock, valued at $132,081.95. This represents a 69.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SHW shares. Wells Fargo & Company cut their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley cut their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Bank of America raised Sherwin-Williams from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $296.00 to $375.00 in a research note on Thursday. BMO Capital Markets cut their target price on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Finally, Mizuho cut their target price on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $388.60.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded down $1.39 during trading on Friday, hitting $364.18. 1,785,134 shares of the company traded hands, compared to its average volume of 2,253,146. The stock has a market capitalization of $90.80 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 3.44 and a beta of 1.16. The business's fifty day moving average is $346.00 and its 200-day moving average is $347.91. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing the consensus estimate of $3.76 by ($0.38). The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company posted $3.70 earnings per share. As a group, equities analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's dividend payout ratio is 31.35%.

Sherwin-Williams Company Profile

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.