California State Teachers Retirement System lowered its position in Sherwin-Williams Co (NYSE:SHW) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,044 shares of the specialty chemicals company’s stock after selling 1,983 shares during the quarter. California State Teachers Retirement System’s holdings in Sherwin-Williams were worth $56,604,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SHW. Janus Henderson Group PLC lifted its stake in Sherwin-Williams by 27.6% in the third quarter. Janus Henderson Group PLC now owns 1,332,394 shares of the specialty chemicals company’s stock valued at $477,049,000 after buying an additional 288,492 shares during the last quarter. Atlantic Trust Group LLC purchased a new stake in Sherwin-Williams in the third quarter valued at approximately $87,798,000. Fred Alger Management Inc. lifted its stake in Sherwin-Williams by 57.3% in the fourth quarter. Fred Alger Management Inc. now owns 640,717 shares of the specialty chemicals company’s stock valued at $262,720,000 after buying an additional 233,329 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Sherwin-Williams by 87.6% in the fourth quarter. Alliancebernstein L.P. now owns 417,913 shares of the specialty chemicals company’s stock valued at $171,361,000 after buying an additional 195,137 shares during the last quarter. Finally, Milestone Resources Group Ltd purchased a new stake in Sherwin-Williams in the fourth quarter valued at approximately $73,042,000. Institutional investors own 74.97% of the company’s stock.
SHW has been the subject of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $455.00 price objective on shares of Sherwin-Williams in a research note on Thursday, December 14th. Cleveland Research reiterated a “buy” rating on shares of Sherwin-Williams in a research note on Wednesday, March 7th. Zacks Investment Research upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and set a $463.00 price objective for the company in a research note on Wednesday, December 27th. Citigroup upped their price target on Sherwin-Williams to $486.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Deutsche Bank started coverage on Sherwin-Williams in a research note on Friday, December 22nd. They set a “hold” rating and a $420.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $436.20.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $2.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.18 by ($0.23). Sherwin-Williams had a return on equity of 50.59% and a net margin of 11.83%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the company earned $2.15 EPS. The company’s revenue was up 43.0% on a year-over-year basis. analysts expect that Sherwin-Williams Co will post 19.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Monday, February 26th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, February 23rd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.85. Sherwin-Williams’s dividend payout ratio is currently 27.11%.
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Sherwin-Williams Company Profile
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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