Canoe Financial LP Sells 266,102 Shares of The Sherwin-Williams Company (NYSE:SHW)

Canoe Financial LP lowered its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 83.4% in the 3rd quarter, Holdings Channel.com reports. 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 SEC filing.

Other large investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its position in Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares during the period. HHM Wealth Advisors LLC grew its position in Sherwin-Williams by 102.3% in the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares during the period. Semmax Financial Advisors Inc. grew its position in Sherwin-Williams by 136.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares during the period. VitalStone Financial LLC grew its position in Sherwin-Williams by 233.3% in the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 77 shares during the period. Finally, Anfield Capital Management LLC purchased a new position in shares of Sherwin-Williams during the 2nd quarter worth $38,000. Institutional investors own 77.67% of the company’s stock.

Analyst Ratings Changes

SHW has been the topic of several analyst reports. Barclays lifted their price target on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. Finally, BMO Capital Markets boosted their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $395.29.

Sherwin-Williams Stock Performance

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

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

Sherwin-Williams Announces Dividend

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

Insider Activity

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