State of Michigan Retirement System Acquires 100 Shares of The Sherwin-Williams Company (NYSE:SHW)

State of Michigan Retirement System grew its holdings in The Sherwin-Williams Company (NYSE:SHW) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,556 shares of the specialty chemicals company’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Sherwin-Williams were worth $22,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SHW. First United Bank & Trust bought a new position in shares of Sherwin-Williams in the fourth quarter worth approximately $31,000. Tortoise Investment Management LLC increased its stake in Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Sherwin-Williams in the fourth quarter valued at about $35,000. Wetzel Investment Advisors Inc. bought a new position in shares of Sherwin-Williams in the fourth quarter worth about $36,000. Finally, Tompkins Financial Corp raised its stake in Sherwin-Williams by 1,533.3% during the 3rd quarter. Tompkins Financial Corp now owns 147 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $294.57 on Wednesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46. The business has a fifty day moving average of $304.82 and a 200 day moving average of $313.43. The firm has a market capitalization of $74.69 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.40 and a beta of 1.16. The Sherwin-Williams Company has a 1 year low of $232.06 and a 1 year high of $348.37.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the firm posted $2.04 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that The Sherwin-Williams Company will post 11.43 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a dividend of $0.715 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.97%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Analysts Set New Price Targets

SHW has been the topic of several recent research reports. Robert W. Baird upped their price objective on Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada reduced their target price on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Evercore ISI upped their target price on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Loop Capital dropped their price target on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Citigroup decreased their price objective on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $343.41.

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.