--- title: "Coatings 13Fs: Sherwin-Williams, PPG, RPM International" type: learn slug: coatings-13f-shw-ppg-rpm-decoder canonical_url: https://13finsight.com/learn/coatings-13f-shw-ppg-rpm-decoder published_at: 2026-05-16T00:41:51.366Z updated_at: 2026-05-16T00:41:53.853Z author: Sarah Mitchell author_title: Education Editor author_url: https://13finsight.com/authors/sarah-mitchell word_count: 344 locale: en source: 13F Insight --- # Coatings 13Fs: Sherwin-Williams, PPG, RPM International > Sherwin-Williams, PPG Industries, RPM International, Axalta Coating Systems, and AkzoNobel anchor US-traded coatings 13F positioning. Architectural versus industrial mix, housing cycle exposure, automotive refinish dynamics, and capital allocation drive distinctive institutional patterns. US-traded paint and coatings equities form a distinctive specialty-chemicals corner of institutional 13F positioning. Sherwin-Williams, PPG Industries (PPG), RPM International (RPM), Axalta Coating Systems (AXTA), and AkzoNobel (AKZOY OTC) anchor the cohort. Architectural versus industrial coatings mix, housing cycle exposure, automotive refinish dynamics, and disciplined capital allocation drive distinctive institutional patterns. Reading coatings 13F positioning requires understanding the architectural-vs-industrial framework plus the multi-year housing-and-automotive cycle dynamics.The coatings business modelCoatings face four primary economic drivers:Architectural vs industrial mix. Architectural coatings (residential, commercial paints) face housing cycle exposure. Industrial coatings (automotive OEM, marine, aerospace, industrial) face manufacturing cycle exposure.Housing cycle exposure. Multi-year housing construction plus existing home renovation activity drives architectural coatings demand.Automotive refinish. Multi-decade automotive collision repair plus refinish market provides recurring revenue distinct from new vehicle production cycles.Capital allocation. Sherwin-Williams plus PPG operate disciplined buyback plus dividend growth frameworks. Multi-year capital deployment drives compounding.Major coatings namesSherwin-Williams (SHW)Largest US coatings company with diversified Architectural, Industrial, Aerospace, Packaging coatings. Multi-decade dividend growth track record (Dividend Aristocrat). Concentrated active manager overweights reflect franchise quality plus capital return thesis.PPG Industries (PPG)Diversified across Performance Coatings, Industrial Coatings. Multi-decade dividend growth plus strategic acquisitions.RPM International (RPM)Diversified specialty coatings (Rust-Oleum, Tremco roofing, DAP caulks). Multi-decade dividend growth track record.Axalta Coating Systems (AXTA)Automotive refinish leadership plus Industrial Coatings. Carlyle ownership history.AkzoNobel (AKZOY OTC)Dutch-headquartered global coatings. ADR-traded provides US-investor access.How institutional managers position around coatingsThree patterns:Pattern 1: Franchise-quality concentrationSHW-concentrated active manager positions reflect largest US coatings franchise plus capital return thesis.Pattern 2: Dividend-aristocrat positioningSHW, RPM-concentrated P&C insurance balance sheet positions reflect dividend-aristocrat allocation.Pattern 3: Refinish-cycle positioningAXTA-concentrated active manager positions reflect automotive refinish cycle thesis.How to read coatings 13F positioningThree rules:Rule 1: Identify architectural-vs-industrial mixEach operator's mix determines cycle exposure profile.Rule 2: Watch housing market dataArchitectural coatings demand correlates with housing cycle.Rule 3: Cross-check raw material costsTiO2, resins, solvents drive cost-of-goods dynamics.What coatings positioning signalsFranchise-quality conviction. Concentrated SHW positions signal franchise quality plus capital return thesis.Dividend-aristocrat conviction. Concentrated SHW, RPM positions signal Dividend Aristocrat allocation.Refinish-cycle conviction. Concentrated AXTA positions signal automotive refinish thesis.For real-time tracking of coatings 13F activity, see the institutional signals feed. ## FAQ ### What are the major US-traded coatings companies? Five major coatings companies: (1) Sherwin-Williams (SHW) — largest US with Architectural, Industrial, Aerospace, Packaging segments; (2) PPG Industries (PPG) — Performance Coatings plus Industrial Coatings; (3) RPM International (RPM) — Rust-Oleum, Tremco roofing, DAP caulks; (4) Axalta Coating Systems (AXTA) — automotive refinish leadership plus Industrial; (5) AkzoNobel (AKZOY OTC) — Dutch-headquartered global coatings. ### How do architectural vs industrial coatings differ? Architectural coatings (residential, commercial paints) face housing cycle exposure with multi-year demand cycles tied to new construction plus renovation. Industrial coatings (automotive OEM, marine, aerospace, industrial finishes) face manufacturing cycle exposure with different cyclical dynamics. Sherwin-Williams operates substantial architectural exposure through Paint Stores Group; PPG operates more balanced architectural plus industrial mix. Reading mix disclosure drives positioning. ### Why is Sherwin-Williams a dividend-aristocrat? Sherwin-Williams has increased dividends for 45+ consecutive years (Dividend Aristocrat status). The largest US coatings franchise plus disciplined operational management plus diversified architectural-and-industrial mix produces consistent free cash flow. Multi-decade buyback program plus dividend growth provides baseline equity returns. Concentrated active manager SHW positions plus P&C insurance balance sheet allocations reflect franchise quality. ### How does automotive refinish work? Automotive refinish (collision repair paint plus refinish) represents distinct multi-decade recurring market separate from automotive OEM coatings. Refinish demand correlates with vehicle accident frequency, insurance claim trends, and aging vehicle fleet. Multi-year market growth tied to demographic plus driving patterns drives recurring revenue. Axalta plus PPG operate leading refinish positions. Reading collision repair data drives institutional positioning. ### How do raw materials affect coatings margins? Coatings raw materials include TiO2 (titanium dioxide, primary white pigment), resins (acrylic, alkyd, epoxy, polyurethane), solvents (water-based or solvent-based), plus specialty additives. Multi-year commodity cycles drive cost-of-goods dynamics. TiO2 pricing particularly affects architectural coatings margins. Multi-year operator pricing power offsets raw material cycle pressure. Reading raw material trajectory drives institutional positioning. ### What signals coatings cycle inflections? Four signals: (1) housing market data plus existing home renovation activity; (2) automotive collision frequency plus repair market data; (3) raw material cost trajectory (TiO2, resins); (4) operator pricing power plus volume disclosure. Concentrated 13F changes around these signals reveal manager cycle reading. --- Source: 13F Insight — https://13finsight.com/learn/coatings-13f-shw-ppg-rpm-decoder Author: Sarah Mitchell — https://13finsight.com/authors/sarah-mitchell Last updated: 2026-05-16T00:41:53.853Z