CIBC Private Wealth Group LLC Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

CIBC Private Wealth Group LLC lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 323,524 shares of the specialty chemicals company’s stock after selling 8,806 shares during the period. CIBC Private Wealth Group LLC owned about 0.13% of Sherwin-Williams worth $109,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHW. Merit Financial Group LLC increased its position in shares of Sherwin-Williams by 80.0% during the fourth quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock worth $400,000 after purchasing an additional 523 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Sherwin-Williams by 52.6% during the 4th quarter. Park Avenue Securities LLC now owns 6,680 shares of the specialty chemicals company’s stock worth $2,271,000 after purchasing an additional 2,303 shares during the period. Burney Co. grew its stake in shares of Sherwin-Williams by 4.6% in the fourth quarter. Burney Co. now owns 17,272 shares of the specialty chemicals company’s stock valued at $5,871,000 after buying an additional 766 shares in the last quarter. Kerusso Capital Management LLC increased its stake in Sherwin-Williams by 75.9% during the fourth quarter. Kerusso Capital Management LLC now owns 10,290 shares of the specialty chemicals company’s stock worth $3,498,000 after purchasing an additional 4,439 shares during the period. Finally, Canoe Financial LP increased its stake in Sherwin-Williams by 542.0% during the 4th quarter. Canoe Financial LP now owns 339,707 shares of the specialty chemicals company’s stock worth $115,477,000 after buying an additional 286,791 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $339.77 on Friday. The Sherwin-Williams Company has a one year low of $282.09 and a one year high of $400.42. The firm has a 50 day simple moving average of $353.59 and a 200 day simple moving average of $363.86. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The company has a market cap of $85.46 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.98 and a beta of 1.23.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.93%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 3rd. Sherwin-Williams’s payout ratio is presently 29.95%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SHW shares. JPMorgan Chase & Co. raised their price target on Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada decreased their price objective on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Zelman & Associates upgraded Sherwin-Williams to a “strong-buy” rating in a research note on Friday, January 17th. Mizuho decreased their target price on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $380.00 target price (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $401.13.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the transaction, the insider now directly owns 5,365 shares in the company, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Sherwin-Williams Company 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.