California Public Employees Retirement System trimmed its position in Sherwin-Williams Co (NYSE:SHW) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,808 shares of the specialty chemicals company’s stock after selling 6,034 shares during the period. California Public Employees Retirement System owned about 0.18% of Sherwin-Williams worth $68,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SHW. Heritage Trust Co acquired a new position in shares of Sherwin-Williams during the 2nd quarter worth approximately $408,000. Peninsula Asset Management Inc. lifted its holdings in Sherwin-Williams by 1.1% in the second quarter. Peninsula Asset Management Inc. now owns 11,147 shares of the specialty chemicals company’s stock valued at $4,543,000 after acquiring an additional 117 shares during the last quarter. Cypress Capital Group lifted its holdings in Sherwin-Williams by 2.8% in the second quarter. Cypress Capital Group now owns 4,651 shares of the specialty chemicals company’s stock valued at $1,896,000 after acquiring an additional 128 shares during the last quarter. Putnam Investments LLC lifted its holdings in Sherwin-Williams by 22.4% in the second quarter. Putnam Investments LLC now owns 526,564 shares of the specialty chemicals company’s stock valued at $214,612,000 after acquiring an additional 96,274 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in Sherwin-Williams by 14.9% in the second quarter. Bridges Investment Management Inc. now owns 22,006 shares of the specialty chemicals company’s stock valued at $8,968,000 after acquiring an additional 2,855 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

Shares of Sherwin-Williams stock traded down $0.25 during trading hours on Friday, reaching $406.97. 846,634 shares of the company were exchanged, compared to its average volume of 673,189. Sherwin-Williams Co has a 1 year low of $362.36 and a 1 year high of $479.64. The company has a current ratio of 1.20, a quick ratio of 0.75 and a debt-to-equity ratio of 2.59. The firm has a market capitalization of $42.51 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.87 and a beta of 1.24.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 24th. The specialty chemicals company reported $5.73 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.14. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.65 billion. Sherwin-Williams had a return on equity of 46.68% and a net margin of 10.84%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 earnings per share. Sell-side analysts predict that Sherwin-Williams Co will post 19.3 earnings per share for the current year.

In other Sherwin-Williams news, Chairman John G. Morikis sold 20,946 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $439.30, for a total value of $9,201,577.80. Following the completion of the transaction, the chairman now owns 104,907 shares in the company, valued at $46,085,645.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas P. Gilligan sold 5,080 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $458.04, for a total transaction of $2,326,843.20. Following the completion of the transaction, the senior vice president now owns 7,043 shares of the company’s stock, valued at approximately $3,225,975.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,775 shares of company stock valued at $15,411,619. Insiders own 0.78% of the company’s stock.

A number of research analysts recently commented on the company. Citigroup cut Sherwin-Williams from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $492.00 to $435.00 in a report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $465.00 price objective on shares of Sherwin-Williams in a report on Wednesday, July 25th. Northcoast Research reiterated a “buy” rating and issued a $465.00 price objective on shares of Sherwin-Williams in a report on Friday, July 27th. Morgan Stanley boosted their target price on Sherwin-Williams from $425.00 to $455.00 and gave the company an “overweight” rating in a research report on Tuesday, July 17th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $475.00 target price on shares of Sherwin-Williams in a research report on Friday, July 27th. Eleven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $469.42.

About Sherwin-Williams

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.

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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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