CIBC Asset Management Inc Acquires 1,673 Shares of The Sherwin-Williams Company (NYSE:SHW)

CIBC Asset Management Inc grew its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,714 shares of the specialty chemicals company’s stock after acquiring an additional 1,673 shares during the period. CIBC Asset Management Inc’s holdings in Sherwin-Williams were worth $61,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SHW. Valued Wealth Advisors LLC raised its position in shares of Sherwin-Williams by 88.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 32 shares during the period. First Personal Financial Services purchased a new position in shares of Sherwin-Williams in the third quarter valued at about $29,000. GHP Investment Advisors Inc. boosted its stake in shares of Sherwin-Williams by 47.5% in the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 28 shares during the period. HHM Wealth Advisors LLC grew its position in shares of Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Sherwin-Williams during the 3rd quarter valued at approximately $38,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SHW shares. Royal Bank of Canada dropped their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group increased their target price on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target of $396.47.

Sherwin-Williams Stock Up 0.3 %

Shares of SHW stock opened at $388.51 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The Sherwin-Williams Company has a fifty-two week low of $264.54 and a fifty-two week high of $392.57. The firm has a market capitalization of $97.85 billion, a PE ratio of 38.70, a P/E/G ratio of 3.12 and a beta of 1.17. The stock’s 50-day simple moving average is $375.49 and its 200-day simple moving average is $340.86.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.20 earnings per share. Equities analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

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.