Canoe Financial LP Decreases Stake in The Sherwin-Williams Company (NYSE:SHW)

Canoe Financial LP trimmed its stake in The Sherwin-Williams Company (NYSE:SHW) by 83.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,916 shares of the specialty chemicals company’s stock after selling 266,102 shares during the quarter. Canoe Financial LP’s holdings in Sherwin-Williams were worth $20,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tamar Securities LLC lifted its stake in Sherwin-Williams by 3.4% in the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after purchasing an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Sherwin-Williams by 7.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after acquiring an additional 193 shares during the period. Transcend Capital Advisors LLC increased its holdings in Sherwin-Williams by 24.1% in the 2nd quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after acquiring an additional 1,514 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Sherwin-Williams by 4.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after acquiring an additional 4,074 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Sherwin-Williams by 17.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,592 shares of the specialty chemicals company’s stock worth $7,152,000 after purchasing an additional 3,031 shares during the period. 77.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Jefferies Financial Group boosted their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Wells Fargo & Company upped their price target on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley raised their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average target price of $395.29.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $359.04 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average of $372.00 and a 200-day moving average of $335.12. The firm has a market cap of $90.42 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.89 and a beta of 1.17. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $392.57.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the company posted $3.20 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts expect that The Sherwin-Williams Company will post 11.32 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is 28.49%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

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.