State of Tennessee Treasury Department trimmed its holdings in shares of Sherwin-Williams Co (NYSE:SHW) by 66.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,316 shares of the specialty chemicals company’s stock after selling 38,897 shares during the period. State of Tennessee Treasury Department’s holdings in Sherwin-Williams were worth $8,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fiera Capital Corp lifted its holdings in Sherwin-Williams by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,624,120 shares of the specialty chemicals company’s stock worth $746,314,000 after buying an additional 22,437 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Sherwin-Williams by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,458,755 shares of the specialty chemicals company’s stock worth $670,328,000 after buying an additional 248,727 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sherwin-Williams by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,128,419 shares of the specialty chemicals company’s stock worth $656,946,000 after buying an additional 72,432 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Sherwin-Williams by 7.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,053,779 shares of the specialty chemicals company’s stock worth $614,923,000 after buying an additional 69,201 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Sherwin-Williams by 4.3% during the 1st quarter. Janus Henderson Group PLC now owns 950,853 shares of the specialty chemicals company’s stock worth $436,955,000 after buying an additional 39,096 shares during the last quarter. 76.51% of the stock is owned by institutional investors.

SHW stock traded down $7.77 during trading on Friday, hitting $565.44. The company had a trading volume of 4,509 shares, compared to its average volume of 561,562. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 2.94. The firm has a 50-day moving average price of $571.15 and a 200-day moving average price of $546.28. Sherwin-Williams Co has a 1-year low of $325.43 and a 1-year high of $603.36. The firm has a market cap of $51.80 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 3.20 and a beta of 1.23.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Wednesday, April 29th. The specialty chemicals company reported $4.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.13. Sherwin-Williams had a return on equity of 53.04% and a net margin of 8.98%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Sherwin-Williams Co will post 20.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $1.34 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $5.36 dividend on an annualized basis and a yield of 0.95%. Sherwin-Williams’s payout ratio is currently 25.38%.

In other news, insider Aaron M. Erter sold 935 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $534.70, for a total transaction of $499,944.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joel D. Baxter sold 6,830 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $580.00, for a total transaction of $3,961,400.00. Following the transaction, the insider now directly owns 8,894 shares in the company, valued at approximately $5,158,520. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,517 shares of company stock valued at $8,339,284. 0.55% of the stock is currently owned by corporate insiders.

SHW has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on Sherwin-Williams from $600.00 to $625.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank lifted their target price on Sherwin-Williams from $625.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday. Goldman Sachs Group upgraded Sherwin-Williams from a “neutral” rating to a “conviction-buy” rating and set a $590.00 target price on the stock in a research report on Monday, March 30th. Robert W. Baird lifted their target price on Sherwin-Williams from $550.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Co lifted their target price on Sherwin-Williams from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $586.57.

About Sherwin-Williams

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

Featured Article: S&P/ASX 200 Index

Want to see what other hedge funds are holding SHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sherwin-Williams Co (NYSE:SHW).

Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

Receive News & Ratings for Sherwin-Williams Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams and related companies with MarketBeat.com's FREE daily email newsletter.