Public Sector Pension Investment Board Boosts Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Public Sector Pension Investment Board grew its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 14.0% during the third quarter, Holdings Channel reports. The institutional investor owned 8,980 shares of the specialty chemicals company’s stock after purchasing an additional 1,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in Sherwin-Williams were worth $3,427,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Griffin Asset Management Inc. grew its position in Sherwin-Williams by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after acquiring an additional 26 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Sherwin-Williams by 2.4% during the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 28 shares during the period. GHP Investment Advisors Inc. grew its holdings in shares of Sherwin-Williams by 47.5% in the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. Allworth Financial LP increased its stake in shares of Sherwin-Williams by 1.8% in the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after buying an additional 28 shares during the period. Finally, First Interstate Bank raised its holdings in Sherwin-Williams by 1.9% during the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup reduced their price target on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company upped their target price on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. StockNews.com cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Robert W. Baird boosted their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $395.37 on Wednesday. The firm has a market cap of $99.57 billion, a P/E ratio of 39.38, a P/E/G ratio of 3.19 and a beta of 1.19. The Sherwin-Williams Company has a 52 week low of $278.45 and a 52 week high of $400.42. The business’s 50 day moving average price is $379.49 and its 200 day moving average price is $348.47. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company posted $3.20 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a yield of 0.72%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Insider Buying and Selling at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the transaction, the senior vice president now directly owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. The trade was a 35.06 % 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. Also, SVP Gregory P. Sofish sold 2,565 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,396,349.27. This represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Sherwin-Williams 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.