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

Cibc World Markets Corp boosted its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 734.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,297 shares of the specialty chemicals company's stock after acquiring an additional 235,264 shares during the quarter. Cibc World Markets Corp owned 0.11% of Sherwin-Williams worth $90,862,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Sherwin-Williams by 18.2% in the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company's stock valued at $2,474,238,000 after acquiring an additional 999,164 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sherwin-Williams by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,733,131 shares of the specialty chemicals company's stock worth $1,799,196,000 after buying an additional 58,463 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of Sherwin-Williams by 5.6% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,171,802 shares of the specialty chemicals company's stock worth $738,261,000 after buying an additional 114,591 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Sherwin-Williams by 12.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,724,746 shares of the specialty chemicals company's stock worth $586,293,000 after purchasing an additional 187,724 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 worth $500,402,000 after buying an additional 50,983 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

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Insider Buying and Selling

In related news, insider Colin M. Davie sold 2,799 shares of the company's 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 sale, the insider now owns 5,365 shares in the company, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHW. Royal Bank of Canada reduced their target price on shares of Sherwin-Williams from $438.00 to $415.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Citigroup reiterated a "buy" rating and issued a $423.00 price objective (up previously from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. Mizuho dropped their target price on Sherwin-Williams from $435.00 to $408.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price target on Sherwin-Williams from $370.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley decreased 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 assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Sherwin-Williams currently has an average rating of "Moderate Buy" and a consensus price target of $401.13.

Sherwin-Williams Stock Up 0.3 %

Shares of NYSE:SHW traded up $1.09 during trading on Thursday, reaching $336.01. 2,157,038 shares of the stock traded hands, compared to its average volume of 1,623,089. The Sherwin-Williams Company has a 52-week low of $282.09 and a 52-week high of $400.42. The stock has a market cap of $84.51 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The stock has a 50-day moving average of $353.91 and a two-hundred day moving average of $365.04. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same quarter in the prior year, the business posted $1.81 EPS. As a group, sell-side analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.94%. Sherwin-Williams's dividend payout ratio is 29.95%.

Sherwin-Williams 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.