Sherwin-Williams Co (SHW) Stake Lowered by California Public Employees Retirement System
California Public Employees Retirement System lowered its holdings in Sherwin-Williams Co (NYSE:SHW) by 3.1% during the fourth quarter, Holdings Channel reports. The fund owned 182,815 shares of the specialty chemicals company’s stock after selling 5,805 shares during the period. California Public Employees Retirement System’s holdings in Sherwin-Williams were worth $74,961,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Spectrum Management Group Inc. purchased a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $162,000. Montag A & Associates Inc. purchased a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $202,000. BTIM Corp. purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $202,000. ZWJ Investment Counsel Inc. purchased a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $204,000. Finally, Chemung Canal Trust Co. purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 75.92% of the company’s stock.
In other Sherwin-Williams news, SVP Robert J. Wells sold 2,946 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $409.11, for a total transaction of $1,205,238.06. Following the completion of the sale, the senior vice president now directly owns 18,363 shares of the company’s stock, valued at approximately $7,512,486.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert J. Davisson sold 8,800 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $390.07, for a total value of $3,432,616.00. Following the sale, the insider now directly owns 14,812 shares of the company’s stock, valued at $5,777,716.84. The disclosure for this sale can be found here. Insiders have sold a total of 15,122 shares of company stock valued at $5,969,846 over the last ninety days. 1.69% of the stock is owned by insiders.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Sherwin-Williams had a return on equity of 50.59% and a net margin of 11.83%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The firm’s revenue was up 43.0% compared to the same quarter last year. equities analysts predict that Sherwin-Williams Co will post 19.1 earnings per share for the current fiscal year.
A number of research firms have recently commented on SHW. Credit Suisse Group reiterated a “hold” rating and issued a $473.00 price objective on shares of Sherwin-Williams in a report on Wednesday, January 24th. Citigroup raised their price target on Sherwin-Williams to $486.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Robert W. Baird restated a “buy” rating and set a $475.00 price target on shares of Sherwin-Williams in a research note on Wednesday, January 10th. Bank of America raised their price target on Sherwin-Williams from $435.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Barclays restated a “hold” rating on shares of Sherwin-Williams in a research note on Sunday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $433.74.
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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