State of New Jersey Common Pension Fund D Sells 49,066 Shares of The Sherwin-Williams Company (NYSE:SHW)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 35.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,034 shares of the specialty chemicals company’s stock after selling 49,066 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sherwin-Williams were worth $26,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHW. HHM Wealth Advisors LLC increased its stake in shares of Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 45 shares during the period. Tortoise Investment Management LLC raised its holdings in Sherwin-Williams by 158.5% during the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. VitalStone Financial LLC lifted its position in shares of Sherwin-Williams by 233.3% in the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 77 shares during the period. Anfield Capital Management LLC bought a new stake in shares of Sherwin-Williams in the 2nd quarter valued at $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Sherwin-Williams during the first quarter worth $47,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Stock Up 0.6 %

SHW opened at $373.97 on Friday. The Sherwin-Williams Company has a fifty-two week low of $232.06 and a fifty-two week high of $374.26. The firm has a market capitalization of $94.82 billion, a P/E ratio of 39.87, a PEG ratio of 2.83 and a beta of 1.17. The company’s 50-day moving average is $345.15 and its 200 day moving average is $326.36. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 EPS. Research analysts expect that The Sherwin-Williams Company will post 11.47 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.715 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.76%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. KeyCorp upped their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group raised their target price on Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a research note on Friday, August 30th. Finally, Evercore ISI raised their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.68.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Company 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.