CIBC Asset Management Inc Lowers Position in The Sherwin-Williams Company $SHW

CIBC Asset Management Inc lessened its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 76.8% in the third quarter, HoldingsChannel.com reports. The fund owned 34,032 shares of the specialty chemicals company’s stock after selling 112,645 shares during the period. CIBC Asset Management Inc’s holdings in Sherwin-Williams were worth $11,784,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SHW. MTM Investment Management LLC purchased a new position in Sherwin-Williams in the 2nd quarter worth approximately $26,000. Valley National Advisers Inc. raised its position in shares of Sherwin-Williams by 68.0% during 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 in the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of 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 acquiring an additional 44 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Sherwin-Williams in the second quarter worth $31,000. Finally, Delos Wealth Advisors LLC bought a new position in Sherwin-Williams in the second quarter valued at $36,000. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Stock Up 0.1%

Shares of NYSE SHW opened at $348.78 on Tuesday. The firm has a fifty day simple moving average of $336.40 and a two-hundred day simple moving average of $343.63. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $379.65. The company has a current ratio of 0.82, a quick ratio of 0.52 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $86.46 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 4.30 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.15. The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.21 billion. Sherwin-Williams had a return on equity of 66.75% and a net margin of 11.05%.The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.37 EPS. Equities analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SHW shares. Mizuho cut their price objective on Sherwin-Williams from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Bank of America cut their target price on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Vertical Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target on the stock in a research note on Wednesday, January 7th. Royal Bank Of Canada set a $405.00 price objective on shares of Sherwin-Williams and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 target price (down previously from $422.00) on shares of Sherwin-Williams in a report on Monday, January 12th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.94.

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.