Kentucky Retirement Systems Insurance Trust Fund Sells 653 Shares of The Sherwin-Williams Company (NYSE:SHW)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,871 shares of the specialty chemicals company’s stock after selling 653 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Sherwin-Williams were worth $2,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SHW. PineStone Asset Management Inc. raised its position in Sherwin-Williams by 132.8% in 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 during the period. Assenagon Asset Management S.A. grew its stake in shares of Sherwin-Williams by 610.0% during the second 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 buying an additional 898,143 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Sherwin-Williams by 40,317.4% in the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after buying an additional 724,907 shares during the period. Jensen Investment Management Inc. purchased a new stake in shares of Sherwin-Williams in the second quarter worth approximately $169,770,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of Sherwin-Williams by 54.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after acquiring an additional 496,326 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 2.3 %

NYSE SHW opened at $378.99 on Friday. The Sherwin-Williams Company has a 52 week low of $264.54 and a 52 week high of $392.57. The company has a 50 day moving average price of $376.42 and a 200 day moving average price of $341.69. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The firm 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.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company posted $3.20 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 28.49%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SHW has been the topic of several research analyst reports. Citigroup cut their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $396.47.

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.