State of Michigan Retirement System Has $22.42 Million Stock Position in The Sherwin-Williams Company (NYSE:SHW)

State of Michigan Retirement System boosted its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,556 shares of the specialty chemicals company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Sherwin-Williams were worth $22,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Sherwin-Williams by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock worth $6,685,876,000 after purchasing an additional 179,274 shares during the period. Morgan Stanley grew its position in shares of Sherwin-Williams by 1.5% during the 3rd quarter. Morgan Stanley now owns 5,063,957 shares of the specialty chemicals company’s stock worth $1,291,563,000 after buying an additional 75,571 shares during the period. Capital World Investors increased its stake in shares of Sherwin-Williams by 38.9% in the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after acquiring an additional 1,075,351 shares during the last quarter. Norges Bank acquired a new stake in shares of Sherwin-Williams in the 4th quarter valued at approximately $1,176,356,000. Finally, Clearbridge Investments LLC boosted its stake in Sherwin-Williams by 4.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock worth $866,862,000 after acquiring an additional 116,647 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Trading Down 0.4 %

NYSE SHW opened at $294.57 on Wednesday. The Sherwin-Williams Company has a 12 month low of $232.06 and a 12 month high of $348.37. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The stock has a 50 day moving average of $304.82 and a 200-day moving average of $313.43. The company has a market cap of $74.69 billion, a PE ratio of 31.40, a PEG ratio of 2.40 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.04 EPS. On average, equities research analysts anticipate that The Sherwin-Williams Company will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, May 16th. Sherwin-Williams’s payout ratio is presently 30.49%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Evercore ISI lifted their price objective on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. KeyCorp raised Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 target price for the company in a research note on Thursday, April 25th. Finally, BMO Capital Markets lowered their price objective on shares of Sherwin-Williams from $377.00 to $360.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus target price of $343.41.

Sherwin-Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.