Teacher Retirement System of Texas Cuts Stake in The Sherwin-Williams Company $SHW

Teacher Retirement System of Texas cut its stake in The Sherwin-Williams Company (NYSE:SHW) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 132,527 shares of the specialty chemicals company’s stock after selling 3,306 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sherwin-Williams were worth $45,504,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SHW. Valley National Advisers Inc. raised its position in Sherwin-Williams by 68.0% in the second quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 34 shares during the period. Synergy Investment Management LLC raised its position in Sherwin-Williams by 583.3% in the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in Sherwin-Williams in the first quarter valued at about $30,000. Salomon & Ludwin LLC purchased a new position in Sherwin-Williams in the second quarter valued at about $31,000. Finally, Saudi Central Bank purchased a new position in Sherwin-Williams in the first quarter valued at about $33,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Stock Up 0.6%

NYSE:SHW opened at $333.64 on Monday. The company has a market capitalization of $83.19 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 3.13 and a beta of 1.20. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The stock has a 50-day simple moving average of $350.33 and a 200 day simple moving average of $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.

Sherwin-Williams Dividend Announcement

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

Insider Buying and Selling

In other Sherwin-Williams news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the completion of the transaction, the insider directly owned 17,922 shares in the company, valued at $6,609,992.04. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the transaction, the chief accounting officer owned 377 shares of the company’s stock, valued at approximately $132,081.95. The trade was a 69.52% 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.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup reissued a “neutral” rating and issued a $380.00 price objective (up from $375.00) on shares of Sherwin-Williams in a research report on Monday, October 6th. UBS Group restated a “buy” rating and set a $400.00 target price (up from $395.00) on shares of Sherwin-Williams in a research note on Monday, October 6th. Evercore ISI raised their target price 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 target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Sherwin-Williams in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.