State of New Jersey Common Pension Fund D Decreases Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

State of New Jersey Common Pension Fund D trimmed its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,622 shares of the specialty chemicals company’s stock after selling 412 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sherwin-Williams were worth $29,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SHW. FMR LLC raised its holdings in Sherwin-Williams by 18.2% during the 3rd quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock valued at $2,474,238,000 after buying an additional 999,164 shares during the period. International Assets Investment Management LLC raised 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 valued at $277,361,000 after buying an additional 724,907 shares during the period. Mizuho Securities USA LLC raised its holdings in Sherwin-Williams by 1,717.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 326,903 shares of the specialty chemicals company’s stock valued at $124,769,000 after buying an additional 308,921 shares during the period. Canoe Financial LP raised its holdings in Sherwin-Williams by 542.0% during the 4th quarter. Canoe Financial LP now owns 339,707 shares of the specialty chemicals company’s stock valued at $115,477,000 after buying an additional 286,791 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Sherwin-Williams by 47.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 864,558 shares of the specialty chemicals company’s stock valued at $293,889,000 after buying an additional 278,242 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sherwin-Williams

In related news, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the sale, the senior vice president now owns 29,205 shares of the company’s stock, valued at $11,621,253.60. This trade represents a 35.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SHW has been the topic of several recent research reports. Citigroup decreased their price target on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reduced their target price on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Zelman & Associates upgraded Sherwin-Williams to a “strong-buy” rating in a research note on Friday, January 17th. Berenberg Bank upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and increased their target price for the stock from $321.00 to $420.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $400.00.

Sherwin-Williams Price Performance

SHW opened at $356.93 on Monday. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42. The business’s fifty day simple moving average is $352.96 and its 200-day simple moving average is $365.21. The company has a market capitalization of $89.89 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 3.15 and a beta of 1.22. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same quarter in the prior year, the company earned $1.81 EPS. On average, equities research analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

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.