Teacher Retirement System of Texas grew its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 1,372.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 41,572 shares of the specialty chemicals company’s stock after acquiring an additional 38,748 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sherwin-Williams were worth $24,259,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position 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 valued at $2,534,464,000 after acquiring an additional 90,828 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Sherwin-Williams by 2.5% in the third quarter. Wealthfront Advisers LLC now owns 2,419 shares of the specialty chemicals company’s stock valued at $1,330,000 after acquiring an additional 59 shares during the period. DNB Asset Management AS boosted its position in shares of Sherwin-Williams by 22.5% in the third quarter. DNB Asset Management AS now owns 16,103 shares of the specialty chemicals company’s stock valued at $8,855,000 after acquiring an additional 2,954 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Sherwin-Williams by 11.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,895 shares of the specialty chemicals company’s stock valued at $3,791,000 after acquiring an additional 684 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Sherwin-Williams in the third quarter valued at approximately $356,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.
SHW stock traded up $4.92 during midday trading on Friday, hitting $584.68. The stock had a trading volume of 9,474 shares, compared to its average volume of 571,349. The firm has a market capitalization of $52.83 billion, a price-to-earnings ratio of 35.48, a P/E/G ratio of 2.37 and a beta of 1.29. Sherwin-Williams Co has a 52 week low of $410.35 and a 52 week high of $599.95. The stock has a 50-day simple moving average of $578.39 and a 200 day simple moving average of $559.02. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 2.28.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $4.27 EPS for the quarter, missing the consensus estimate of $4.40 by ($0.13). Sherwin-Williams had a return on equity of 51.35% and a net margin of 8.61%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period last year, the business earned $3.54 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Sherwin-Williams Co will post 23.23 EPS for the current year.
In other Sherwin-Williams news, CEO John G. Morikis sold 14,734 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $576.92, for a total transaction of $8,500,339.28. Following the completion of the transaction, the chief executive officer now directly owns 111,120 shares in the company, valued at $64,107,350.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Sherwin-Williams from $604.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Credit Suisse Group reduced their price objective on Sherwin-Williams from $620.00 to $615.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Deutsche Bank increased their price objective on Sherwin-Williams from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital assumed coverage on Sherwin-Williams in a research report on Thursday, January 23rd. They issued a “buy” rating and a $680.00 price objective for the company. Finally, Wells Fargo & Co cut Sherwin-Williams from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $650.00 to $600.00 in a research report on Friday, January 31st. Fifteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $584.52.
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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