Kentucky Retirement Systems Has $6.17 Million Position in The Sherwin-Williams Company (NYSE:SHW)

Kentucky Retirement Systems reduced its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,168 shares of the specialty chemicals company’s stock after selling 1,410 shares during the quarter. Kentucky Retirement Systems’ holdings in Sherwin-Williams were worth $6,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. PineStone Asset Management Inc. increased its holdings in Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Sherwin-Williams by 610.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after acquiring an additional 898,143 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Sherwin-Williams by 40,317.4% during the 3rd quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after acquiring an additional 724,907 shares during the last quarter. Jensen Investment Management Inc. bought a new stake in shares of Sherwin-Williams in the 2nd quarter worth $169,770,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of Sherwin-Williams by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after purchasing an additional 496,326 shares during the last quarter. 77.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on SHW shares. Royal Bank of Canada dropped their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Citigroup reduced their price target on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Morgan Stanley lifted their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction 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. This trade represents a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $378.99 on Friday. The stock has a fifty day moving average of $376.42 and a 200-day moving average of $341.69. The stock has a market cap of $95.45 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 3.12 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The Sherwin-Williams Company has a fifty-two week low of $264.54 and a fifty-two week high of $392.57.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.20 earnings per share. Equities research analysts anticipate that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is currently 28.49%.

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.