State of Michigan Retirement System Lowers Stock Holdings in The Sherwin-Williams Company $SHW

State of Michigan Retirement System decreased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,256 shares of the specialty chemicals company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Sherwin-Williams were worth $22,406,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. SS&H Financial Advisors Inc. acquired a new position in Sherwin-Williams during the second quarter worth approximately $5,982,000. Jessup Wealth Management Inc increased its position in Sherwin-Williams by 1.4% during the second quarter. Jessup Wealth Management Inc now owns 2,341 shares of the specialty chemicals company’s stock worth $804,000 after buying an additional 32 shares during the period. Plato Investment Management Ltd increased its position in Sherwin-Williams by 1.2% during the second quarter. Plato Investment Management Ltd now owns 11,168 shares of the specialty chemicals company’s stock worth $3,821,000 after buying an additional 130 shares during the period. Creekmur Asset Management LLC increased its position in Sherwin-Williams by 17.1% during the second quarter. Creekmur Asset Management LLC now owns 1,747 shares of the specialty chemicals company’s stock worth $600,000 after buying an additional 255 shares during the period. Finally, Kovack Advisors Inc. increased its position in Sherwin-Williams by 5.4% during the second quarter. Kovack Advisors Inc. now owns 644 shares of the specialty chemicals company’s stock worth $221,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 0.9%

Shares of SHW stock opened at $344.86 on Monday. The business’s fifty day moving average price is $348.29 and its 200 day moving average price is $348.74. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The firm has a market capitalization of $85.49 billion, a PE ratio of 33.64, a P/E/G ratio of 3.26 and a beta of 1.20. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.82 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.15. Sherwin-Williams had a return on equity of 66.75% and a net margin of 11.05%.The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the company posted $3.37 earnings per share. Sherwin-Williams’s quarterly revenue was up 3.2% on a year-over-year basis. Sherwin-Williams has set its FY 2025 guidance at 11.250-11.450 EPS. As a group, sell-side analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 14th. Sherwin-Williams’s dividend payout ratio is currently 30.83%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHW shares. BMO Capital Markets cut their price target on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Citigroup restated a “neutral” rating and set a $392.00 price target (up previously from $380.00) on shares of Sherwin-Williams in a research note on Thursday. Bank of America decreased their price target on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Evercore ISI lifted their price objective on shares of Sherwin-Williams from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sherwin-Williams from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $390.87.

Insiders Place Their Bets

In related news, insider Justin T. Binns sold 609 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $368.82, for a total transaction of $224,611.38. Following the transaction, the insider owned 17,922 shares of the company’s stock, valued at $6,609,992.04. This represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO James P. Lang sold 860 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the sale, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

About Sherwin-Williams

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.