University of Texas Texas AM Investment Management Co. Reduces Position in The Sherwin-Williams Company $SHW

University of Texas Texas AM Investment Management Co. decreased its holdings in The Sherwin-Williams Company (NYSE:SHW) by 11.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,577 shares of the specialty chemicals company’s stock after selling 620 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Sherwin-Williams were worth $1,572,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Sherwin-Williams by 1.1% during the first quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company’s stock valued at $7,711,004,000 after purchasing an additional 245,896 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Sherwin-Williams by 21.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company’s stock worth $3,023,126,000 after purchasing an additional 1,505,341 shares during the period. Alliancebernstein L.P. raised its stake in Sherwin-Williams by 2.2% during the 1st quarter. Alliancebernstein L.P. now owns 4,409,209 shares of the specialty chemicals company’s stock valued at $1,539,652,000 after buying an additional 93,209 shares during the last quarter. PineStone Asset Management Inc. raised its stake in Sherwin-Williams by 12.0% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,681,100 shares of the specialty chemicals company’s stock valued at $577,222,000 after buying an additional 180,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Sherwin-Williams by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,536,398 shares of the specialty chemicals company’s stock worth $536,495,000 after buying an additional 64,325 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

NYSE:SHW opened at $333.64 on Friday. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week 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. The business’s 50-day simple moving average is $350.33 and its two-hundred day simple moving average is $348.22. The stock has a market cap of $83.19 billion, a PE ratio of 33.10, a P/E/G ratio of 3.13 and a beta of 1.20.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a $0.79 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 31.35%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 377 shares in the company, valued at $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Justin T. Binns sold 609 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $368.82, for a total value of $224,611.38. Following the completion of the sale, the insider directly owned 17,922 shares of the company’s stock, valued at $6,609,992.04. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho reduced their price objective on Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI boosted their price target on Sherwin-Williams from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. Loop Capital lowered their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Wells Fargo & Company set a $395.00 price objective on Sherwin-Williams and gave the stock an “overweight” rating in a research note on Friday, October 10th. Finally, Bank of America cut their price objective on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.13.

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.