Retirement Systems of Alabama Sells 2,360 Shares of The Sherwin-Williams Company (NYSE:SHW)

Retirement Systems of Alabama cut its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,873 shares of the specialty chemicals company's stock after selling 2,360 shares during the period. Retirement Systems of Alabama owned 0.09% of Sherwin-Williams worth $78,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $1,359,747,000. GAMMA Investing LLC raised its position in shares of 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 valued at $571,381,000 after acquiring an additional 1,632,391 shares during the last quarter. Capital Research Global Investors raised its position in shares of 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 valued at $1,019,329,000 after acquiring an additional 960,724 shares during the last quarter. Barclays PLC raised its position in shares of Sherwin-Williams by 54.2% during the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock valued at $704,855,000 after acquiring an additional 728,798 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Sherwin-Williams during the 4th quarter valued at $230,829,000. Institutional investors own 77.67% of the company's stock.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of recent analyst reports. Citigroup downgraded Sherwin-Williams from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $405.00 to $385.00 in a report on Friday, June 13th. Morgan Stanley lowered their price target 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. Wells Fargo & Company raised shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Mizuho set a $395.00 target price on shares of Sherwin-Williams in a research note on Tuesday, April 15th. Finally, Barclays lowered their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $397.67.

Sherwin-Williams Stock Up 0.4%

Shares of NYSE:SHW traded up $1.42 during mid-day trading on Friday, reaching $332.89. 2,702,942 shares of the stock were exchanged, compared to its average volume of 1,727,710. The company has a quick ratio of 0.45, a current ratio of 0.77 and a debt-to-equity ratio of 1.90. The company has a market cap of $83.42 billion, a P/E ratio of 31.46, a P/E/G ratio of 3.01 and a beta of 1.21. The Sherwin-Williams Company has a one year low of $292.27 and a one year high of $400.42. The stock's 50 day simple moving average is $348.31 and its 200-day simple moving average is $349.76.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.02. The company had revenue of $5.31 billion during 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 business's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $2.17 EPS. As a group, equities research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, May 16th. Sherwin-Williams's dividend payout ratio (DPR) is currently 29.87%.

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.