Public Employees Retirement Association of Colorado lowered its position in Sherwin-Williams Co. (NYSE:SHW) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 128,434 shares of the company’s stock after selling 1,058 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Sherwin-Williams were worth $37,717,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. purchased a new stake in Sherwin-Williams during the first quarter worth approximately $114,000. Monetary Management Group Inc. purchased a new stake in Sherwin-Williams during the first quarter worth approximately $121,000. NN Investment Partners Holdings N.V. purchased a new stake in Sherwin-Williams during the first quarter worth approximately $142,000. SevenBridge Financial Group LLC purchased a new stake in Sherwin-Williams during the first quarter worth approximately $163,000. Finally, Athena Capital Advisors LLC purchased a new stake in Sherwin-Williams during the second quarter worth approximately $206,000. 74.62% of the stock is owned by hedge funds and other institutional investors.
Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 0.80% during mid-day trading on Monday, hitting $270.90. The company had a trading volume of 541,630 shares. Sherwin-Williams Co. has a 12 month low of $234.96 and a 12 month high of $312.48. The firm has a market capitalization of $24.87 billion, a P/E ratio of 22.84 and a beta of 0.92. The firm has a 50-day moving average price of $280.39 and a 200 day moving average price of $290.49.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.16 by $0.10. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm posted $3.70 EPS. Sherwin-Williams’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Sherwin-Williams Co. will post $12.64 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on SHW shares. Argus raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target for the company in a report on Monday, September 26th. Credit Agricole SA reissued a “buy” rating and issued a $350.00 price target on shares of Sherwin-Williams in a report on Wednesday, September 14th. Sterne Agee CRT raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Finally, Morgan Stanley reissued a “buy” rating on shares of Sherwin-Williams in a report on Thursday, June 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Sherwin-Williams currently has a consensus rating of “Buy” and a consensus price target of $324.85.
In other Sherwin-Williams news, CEO John G. Morikis sold 30,353 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the transaction, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $300.16, for a total value of $1,156,516.48. Following the transaction, the insider now owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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