The Sherwin-Williams Company $SHW Stock Holdings Reduced by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Sherwin-Williams by 8.5% in the first quarter, selling 7,468 shares, leaving it with approximately $27.99 million worth of shares.
• Despite a recent drop in stock price, analysts generally hold a positive outlook on Sherwin-Williams, with a consensus rating of "Moderate Buy" and an average price target of $388.60.
• Sherwin-Williams announced a quarterly dividend of $0.79, representing an annualized yield of 0.9%, with the ex-dividend date set for August 15th.

State of New Jersey Common Pension Fund D lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 8.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,154 shares of the specialty chemicals company's stock after selling 7,468 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Sherwin-Williams were worth $27,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHW. Park Square Financial Group LLC acquired a new position in Sherwin-Williams during the 4th quarter worth $27,000. Perkins Coie Trust Co acquired a new position in Sherwin-Williams during the 1st quarter worth $27,000. Synergy Investment Management LLC boosted its position in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in Sherwin-Williams during the 1st quarter worth $30,000. Finally, HWG Holdings LP acquired a new position in Sherwin-Williams during the 1st quarter worth $46,000. Institutional investors and hedge funds own 77.67% of the company's stock.

Insider Buying and Selling at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the transaction, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Trading Down 0.3%

Shares of Sherwin-Williams stock traded down $0.9460 on Wednesday, reaching $366.9840. 1,100,876 shares of the company were exchanged, compared to its average volume of 1,796,696. The stock has a fifty day moving average price of $346.16 and a 200-day moving average price of $347.93. The firm has a market capitalization of $91.50 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $3.70 earnings per share. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. On average, analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHW. Citigroup reduced their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Bank of America raised Sherwin-Williams from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $296.00 to $375.00 in a research note on Thursday, August 14th. Royal Bank Of Canada boosted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price objective on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Sherwin-Williams has an average rating of "Moderate Buy" and an average target price of $388.60.

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.