Bank of Montreal Can Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Bank of Montreal Can lessened its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 323,555 shares of the specialty chemicals company’s stock after selling 185,168 shares during the period. Bank of Montreal Can’s holdings in Sherwin-Williams were worth $123,834,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Griffin Asset Management Inc. grew its holdings in shares of Sherwin-Williams by 0.3% during the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock valued at $3,548,000 after buying an additional 26 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Sherwin-Williams by 2.4% in the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 28 shares during the period. GHP Investment Advisors Inc. raised 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 purchasing an additional 28 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Sherwin-Williams by 1.8% during the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank increased its holdings in Sherwin-Williams by 1.9% in the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock worth $560,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Trading Down 0.9 %

SHW opened at $396.14 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The company’s 50 day simple moving average is $377.90 and its two-hundred day simple moving average is $345.63. The firm has a market capitalization of $99.77 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17. The Sherwin-Williams Company has a 1-year low of $272.34 and a 1-year high of $400.31.

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

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a yield of 0.72%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. Morgan Stanley increased their price target on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Evercore ISI boosted their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup lowered their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.47.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. This represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.