CIBC Asset Management Inc Has $61.26 Million Stock Position in The Sherwin-Williams Company (NYSE:SHW)

CIBC Asset Management Inc raised its holdings in The Sherwin-Williams Company (NYSE:SHW) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,714 shares of the specialty chemicals company’s stock after buying an additional 1,673 shares during the quarter. CIBC Asset Management Inc owned 0.06% of Sherwin-Williams worth $61,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tocqueville Asset Management L.P. bought a new stake in Sherwin-Williams in the first quarter valued at $254,000. M&G Plc bought a new stake in Sherwin-Williams in the 1st quarter valued at about $8,368,000. Mizuho Markets Americas LLC boosted its holdings in Sherwin-Williams by 73.0% in the first quarter. Mizuho Markets Americas LLC now owns 33,292 shares of the specialty chemicals company’s stock worth $11,563,000 after acquiring an additional 14,052 shares in the last quarter. First Foundation Advisors grew its stake in Sherwin-Williams by 15.5% in the first quarter. First Foundation Advisors now owns 2,816 shares of the specialty chemicals company’s stock valued at $978,000 after acquiring an additional 378 shares during the period. Finally, Nicolet Advisory Services LLC increased its holdings in shares of Sherwin-Williams by 3.7% during the first quarter. Nicolet Advisory Services LLC now owns 1,033 shares of the specialty chemicals company’s stock valued at $346,000 after acquiring an additional 37 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams 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 directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE SHW opened at $388.51 on Friday. The company has a 50-day simple moving average of $375.49 and a two-hundred day simple moving average of $340.86. The Sherwin-Williams Company has a 12-month low of $264.54 and a 12-month high of $392.57. The firm has a market cap of $97.85 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 3.12 and a beta of 1.17. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last issued its 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). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the firm earned $3.20 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts forecast that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup decreased their target price on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada lowered their price objective on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price target on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI lifted their price objective on shares of Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $396.47.

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.