CIBC World Markets Inc. cut its stake in The Sherwin-Williams Company (NYSE: SHW – Get Rating) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,601 shares of the specialty chemicals company stock after selling 4,407 shares during the period. CIBC World Markets Inc.’s holdings in Sherwin-Williams were worth $ 1,268,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Sherwin-Williams by 1.2% in the fourth quarter. State Street Corp now owns 11,031,115 shares of the specialty chemicals company stock valued at $ 3,884,717,000 after acquiring an additional 135,716 shares in the last quarter. Capital World Investors boosted its holdings in Sherwin-Williams by 0.4% during the third quarter. Capital World Investors now owns 4,880,993 shares of the specialty chemicals company stock worth $ 1,365,382,000 after buying an additional 18,846 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sherwin-Williams by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,750,426 shares of the specialty chemicals company stock worth $ 1,316,576,000 after buying an additional 94,212 shares in the last quarter. Capital International Investors boosted its holdings in Sherwin-Williams by 97.3% during the fourth quarter. Capital International Investors now owns 3,375,591 shares of the specialty chemicals company stock worth $ 1,188,688,000 after buying an additional 1,664,485 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Sherwin-Williams by 24.6% during the fourth quarter. Brown Advisory Inc. now owns 3,232,806 shares of the specialty chemicals company stock worth $ 1,138,465,000 after buying an additional 639,285 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company stock.
In related news, insider Justin T. Binns sold 1,542 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $ 259.99, for a total value of $ 400,904.58. Following the transaction, the insider now directly owns 6,877 shares in the company, valued at approximately $ 1,787,951.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company stock.
Shares of SHW opened at $ 247.42 on Friday. The company fifty day moving average is $ 264.91 and its 200-day moving average is $ 284.61. The Sherwin-Williams Company has a 12 month low of $ 233.32 and a 12 month high of $ 354.15. The firm has a market cap of $ 64.36 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 3.85.
Sherwin-Williams (NYSE: SHW – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The specialty chemicals company reported $ 1.61 EPS for the quarter, topping the consensus estimate of $ 1.54 by $ 0.07. Sherwin-Williams had a net margin of 9.00% and a return on equity of 80.22%. The company had revenue of $ 5 billion for the quarter, compared to analyst estimates of $ 4.92 billion. During the same quarter in the prior year, the business posted $ 2.06 EPS. Sherwin-Williams’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts predict that The Sherwin-Williams Company will post 9.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 20th were paid a $ 0.60 dividend. The ex-dividend date was Thursday, May 19th. This represents a $ 2.40 dividend on an annualized basis and a yield of 0.97%. Sherwin-Williams’s payout ratio is presently 34.99%.
SHW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sherwin-Williams from $ 330.00 to $ 315.00 in a report on Thursday, April 28th. Royal Bank of Canada raised their target price on shares of Sherwin-Williams from $ 315.00 to $ 342.00 in a report on Thursday, April 28th. StockNews.com started coverage on shares of Sherwin-Williams in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group reduced their price target on shares of Sherwin-Williams from $ 320.00 to $ 275.00 and set a “hold” rating for the company in a research report on Wednesday, March 9th. Finally, TheStreet upgraded shares of Sherwin-Williams from a “c +” rating to a “b-” rating in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Hold” and an average target price of $ 319.79.
About Sherwin-Williams: (Get Rating)
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.
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