Strs Ohio lowered its holdings in Sherwin-Williams Co (NYSE:SHW) by 5.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,150 shares of the specialty chemicals company’s stock after selling 7,401 shares during the quarter. Strs Ohio’s holdings in Sherwin-Williams were worth $75,947,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Sherwin-Williams by 1.7% in the second quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock worth $2,534,464,000 after acquiring an additional 90,828 shares during the last quarter. OZ Management LP boosted its holdings in Sherwin-Williams by 2.7% in the 2nd quarter. OZ Management LP now owns 611,711 shares of the specialty chemicals company’s stock valued at $280,341,000 after purchasing an additional 16,199 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Sherwin-Williams by 4.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 408,213 shares of the specialty chemicals company’s stock valued at $224,464,000 after purchasing an additional 18,401 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Sherwin-Williams by 8.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 345,806 shares of the specialty chemicals company’s stock worth $190,148,000 after purchasing an additional 26,965 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Sherwin-Williams by 3.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 324,676 shares of the specialty chemicals company’s stock worth $178,530,000 after purchasing an additional 10,345 shares during the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the stock. Berenberg Bank assumed coverage on shares of Sherwin-Williams in a research report on Wednesday, November 6th. They set a “hold” rating and a $600.00 price objective for the company. Citigroup lifted their target price on Sherwin-Williams from $525.00 to $631.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on Sherwin-Williams from $490.00 to $560.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. ValuEngine lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Credit Suisse Group upped their price target on Sherwin-Williams from $587.00 to $610.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Twelve equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $583.71.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $6.65 earnings per share for the quarter, beating the consensus estimate of $6.46 by $0.19. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.83 billion. Sherwin-Williams had a return on equity of 50.96% and a net margin of 7.81%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.68 EPS. Equities research analysts expect that Sherwin-Williams Co will post 21.22 EPS for the current fiscal year.
In other Sherwin-Williams news, CEO John G. Morikis sold 14,734 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $576.92, for a total transaction of $8,500,339.28. Following the sale, the chief executive officer now directly owns 111,120 shares of the company’s stock, valued at $64,107,350.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron M. Erter sold 3,280 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $580.62, for a total transaction of $1,904,433.60. Following the sale, the insider now directly owns 6,786 shares of the company’s stock, valued at approximately $3,940,087.32. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.
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.
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