CIBC Asset Management Inc Sells 112,645 Shares of The Sherwin-Williams Company $SHW

CIBC Asset Management Inc lowered its stake in The Sherwin-Williams Company (NYSE:SHW) by 76.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,032 shares of the specialty chemicals company’s stock after selling 112,645 shares during the quarter. CIBC Asset Management Inc’s holdings in Sherwin-Williams were worth $11,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SHW. MTM Investment Management LLC acquired a new stake in shares of Sherwin-Williams during the second quarter valued at about $26,000. Valley National Advisers Inc. raised its holdings in Sherwin-Williams by 68.0% in the 2nd quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in Sherwin-Williams by 104.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 44 shares during the period. Salomon & Ludwin LLC acquired a new stake in Sherwin-Williams during the 2nd quarter worth approximately $31,000. Finally, Delos Wealth Advisors LLC bought a new stake in Sherwin-Williams during the 2nd quarter worth approximately $36,000. 77.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SHW shares. Mizuho cut their target price on Sherwin-Williams from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. Royal Bank Of Canada set a $405.00 price objective on Sherwin-Williams and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sherwin-Williams in a research report on Monday, December 29th. Wells Fargo & Company set a $410.00 price target on shares of Sherwin-Williams and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, UBS Group reaffirmed a “buy” rating and issued a $415.00 price objective (down from $422.00) on shares of Sherwin-Williams in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $385.94.

Sherwin-Williams Trading Up 0.1%

NYSE:SHW opened at $348.78 on Tuesday. The Sherwin-Williams Company has a 52 week low of $308.84 and a 52 week high of $379.65. The firm has a 50-day moving average price of $336.40 and a two-hundred day moving average price of $343.63. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.52 and a current ratio of 0.82. The firm has a market cap of $86.46 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 4.30 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company earned $3.37 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.