The Sherwin-Williams Company $SHW Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its holdings in The Sherwin-Williams Company (NYSE:SHW) by 70.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,295 shares of the specialty chemicals company’s stock after selling 188,266 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Sherwin-Williams were worth $27,110,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Sherwin-Williams during the third quarter valued at $32,722,000. Blue Fin Capital Inc. raised its stake in Sherwin-Williams by 2.6% in the 3rd quarter. Blue Fin Capital Inc. now owns 3,930 shares of the specialty chemicals company’s stock valued at $1,361,000 after purchasing an additional 99 shares during the last quarter. Asset Dedication LLC lifted its holdings in Sherwin-Williams by 3.1% in the 3rd quarter. Asset Dedication LLC now owns 4,113 shares of the specialty chemicals company’s stock valued at $1,424,000 after purchasing an additional 124 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Sherwin-Williams by 17.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,689 shares of the specialty chemicals company’s stock valued at $2,662,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Sherwin-Williams during the 3rd quarter worth about $53,020,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Colin M. Davie sold 2,976 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $359.50, for a total value of $1,069,872.00. Following the transaction, the insider directly owned 5,365 shares in the company, valued at $1,928,717.50. This trade represents a 35.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bryan J. Young sold 2,513 shares of Sherwin-Williams stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total value of $915,913.11. Following the completion of the transaction, the senior vice president directly owned 10,045 shares in the company, valued at $3,661,101.15. This represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho raised their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research cut shares of Sherwin-Williams from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft downgraded Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price target for the company. in a report on Thursday, January 22nd. Finally, Citigroup restated a “buy” rating on shares of Sherwin-Williams in a report on Monday, January 19th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $387.21.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $310.10 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.53 and a current ratio of 0.87. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The Sherwin-Williams Company has a one year low of $303.42 and a one year high of $379.65. The company has a 50 day moving average price of $350.52 and a 200 day moving average price of $343.14.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.07. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. Sell-side analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Monday, March 2nd. Sherwin-Williams’s dividend payout ratio (DPR) is presently 31.16%.

Sherwin-Williams Company 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.