The Sherwin-Williams Company $SHW Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its stake in The Sherwin-Williams Company (NYSE:SHW) by 70.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,295 shares of the specialty chemicals company’s stock after selling 188,266 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Sherwin-Williams were worth $27,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHW. Vermillion & White Wealth Management Group LLC raised 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 valued at $30,000 after buying an additional 44 shares during the period. Rossby Financial LCC lifted 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 in the last quarter. Delos Wealth Advisors LLC purchased a new position in Sherwin-Williams in the 2nd quarter worth approximately $36,000. True Wealth Design LLC boosted its holdings in Sherwin-Williams by 129.8% in 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 during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Sherwin-Williams in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SHW shares. Citigroup reissued a “buy” rating on shares of Sherwin-Williams in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Mizuho lifted their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada cut their price objective on shares of Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price objective for the company. in a research report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.21.

Insiders Place Their Bets

In other Sherwin-Williams news, SVP Bryan J. Young sold 2,513 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the sale, the senior vice president owned 10,045 shares in the company, valued at $3,661,101.15. The trade was a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Colin M. Davie sold 2,976 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the sale, the insider directly owned 5,365 shares in the company, valued at $1,928,717.50. This trade represents a 35.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Trading Down 0.6%

Shares of NYSE SHW opened at $310.10 on Friday. The stock’s 50 day moving average price is $350.52 and its two-hundred day moving average price is $343.14. The Sherwin-Williams Company has a 52-week low of $303.42 and a 52-week high of $379.65. The stock has a market capitalization of $76.71 billion, a P/E ratio of 30.20, a PEG ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

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

Sherwin-Williams Increases Dividend

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

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.