Cibc World Markets Corp Grows Position in The Sherwin-Williams Company (NYSE:SHW)

Cibc World Markets Corp increased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 734.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,297 shares of the specialty chemicals company’s stock after purchasing an additional 235,264 shares during the period. Cibc World Markets Corp’s holdings in Sherwin-Williams were worth $90,862,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Sherwin-Williams by 18.2% during the 3rd quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock valued at $2,474,238,000 after buying an additional 999,164 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sherwin-Williams by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,733,131 shares of the specialty chemicals company’s stock valued at $1,799,196,000 after purchasing an additional 58,463 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its holdings in shares of Sherwin-Williams by 5.6% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,171,802 shares of the specialty chemicals company’s stock valued at $738,261,000 after purchasing an additional 114,591 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Sherwin-Williams by 12.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,724,746 shares of the specialty chemicals company’s stock valued at $586,293,000 after purchasing an additional 187,724 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sherwin-Williams by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,472,073 shares of the specialty chemicals company’s stock valued at $500,402,000 after purchasing an additional 50,983 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,799 shares of Sherwin-Williams stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the transaction, the insider now owns 5,365 shares of the company’s stock, valued at $1,933,009.50. The trade was a 34.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

SHW has been the subject of several recent research reports. Zelman & Associates upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Citigroup restated a “buy” rating and issued a $423.00 price target (up previously from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a research report on Friday, January 31st. Finally, Morgan Stanley cut their price objective on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $401.13.

Sherwin-Williams Stock Performance

Shares of SHW opened at $341.99 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The firm has a market cap of $86.01 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The company’s 50 day simple moving average is $353.85 and its 200-day simple moving average is $365.62. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same period last year, the business posted $1.81 EPS. As a group, equities analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Monday, March 3rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s payout ratio is 29.95%.

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.