CIBC Bancorp USA Inc. Purchases Shares of 94,500 The Sherwin-Williams Company $SHW

CIBC Bancorp USA Inc. purchased a new stake in The Sherwin-Williams Company (NYSE:SHW) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 94,500 shares of the specialty chemicals company’s stock, valued at approximately $32,722,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC raised its position in Sherwin-Williams by 104.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 44 shares during the last quarter. Rossby Financial LCC boosted its position in Sherwin-Williams by 96.0% during the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Sherwin-Williams during the 2nd quarter worth approximately $36,000. True Wealth Design LLC grew its stake in shares of Sherwin-Williams by 129.8% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 61 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Sherwin-Williams during the 3rd quarter worth approximately $42,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Bryan J. Young sold 2,513 shares of the firm’s 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 sale, the senior vice president directly owned 10,045 shares in the company, valued at approximately $3,661,101.15. This trade represents a 20.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Colin M. Davie sold 2,976 shares of Sherwin-Williams 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 owned 5,365 shares of the company’s stock, valued at $1,928,717.50. The trade was a 35.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Price Performance

NYSE:SHW opened at $312.28 on Thursday. The stock has a market capitalization of $77.24 billion, a PE ratio of 30.41, a P/E/G ratio of 2.78 and a beta of 1.25. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $379.65. The firm has a fifty day simple moving average of $351.13 and a 200 day simple moving average of $343.37. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 2.03.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.07. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, research analysts expect that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.79. Sherwin-Williams’s payout ratio is currently 31.16%.

Analyst Ratings Changes

A number of analysts have recently commented on SHW shares. Citigroup reissued a “buy” rating on shares of Sherwin-Williams in a research report on Monday, January 19th. Royal Bank Of Canada set a $390.00 target price on shares of Sherwin-Williams and gave the company an “outperform” rating in a research report on Friday, January 30th. Vertical Research upgraded 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. Zacks Research downgraded shares of Sherwin-Williams from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, UBS Group set a $420.00 price objective on Sherwin-Williams in a report on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $388.21.

About Sherwin-Williams

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.