University of Texas Texas AM Investment Management Co. Reduces Stake in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• University of Texas Texas AM Investment Management Co. reduced its stake in The Sherwin-Williams Company by 33.7% in Q1, leaving it with 5,197 shares valued at approximately $1.8 million.
• Sherwin-Williams reported Q2 earnings of $3.38 per share, missing expectations of $3.76, despite a 0.6% year-over-year increase in revenue to $6.31 billion.
• The company announced a quarterly dividend of $0.79 per share, set to be paid on September 5th, with a current dividend yield of 0.93%.

University of Texas Texas AM Investment Management Co. lessened its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 33.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,197 shares of the specialty chemicals company's stock after selling 2,647 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in Sherwin-Williams were worth $1,815,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC increased its position in Sherwin-Williams by 1.6% during the fourth quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company's stock worth $2,239,715,000 after purchasing an additional 106,093 shares during the last quarter. Geode Capital Management LLC increased its position in Sherwin-Williams by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company's stock worth $1,636,679,000 after purchasing an additional 96,571 shares during the last quarter. Alliancebernstein L.P. increased its position in Sherwin-Williams by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company's stock worth $1,467,138,000 after purchasing an additional 86,268 shares during the last quarter. Capital Research Global Investors increased its position in Sherwin-Williams by 47.1% during the fourth quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after purchasing an additional 960,724 shares during the last quarter. Finally, Northern Trust Corp increased its position in Sherwin-Williams by 28.0% during the fourth quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after purchasing an additional 595,586 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Performance

SHW traded up $0.89 during trading hours on Tuesday, reaching $337.05. The company's stock had a trading volume of 1,511,701 shares, compared to its average volume of 1,760,109. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $400.42. The company's 50-day moving average is $347.64 and its 200-day moving average is $348.30. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The firm has a market cap of $84.46 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 3.21 and a beta of 1.18.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a dividend yield of 0.94%. Sherwin-Williams's payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Loop Capital dropped their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their price objective on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets decreased their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of "Moderate Buy" and an average price target of $383.33.

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.