CIBC Private Wealth Group LLC trimmed its holdings in shares of Sherwin-Williams Co (NYSE:SHW) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 213,341 shares of the specialty chemicals company’s stock after selling 1,018 shares during the period. CIBC Private Wealth Group LLC’s holdings in Sherwin-Williams were worth $117,310,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of SHW. Meridian Wealth Management LLC purchased a new stake in Sherwin-Williams during the first quarter worth $168,000. Clearbridge Investments LLC boosted its holdings in Sherwin-Williams by 43.2% during the first quarter. Clearbridge Investments LLC now owns 15,969 shares of the specialty chemicals company’s stock worth $6,878,000 after buying an additional 4,816 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Sherwin-Williams by 13.9% during the first quarter. EP Wealth Advisors LLC now owns 779 shares of the specialty chemicals company’s stock worth $335,000 after buying an additional 95 shares in the last quarter. Bath Savings Trust Co boosted its holdings in Sherwin-Williams by 18.9% during the second quarter. Bath Savings Trust Co now owns 4,979 shares of the specialty chemicals company’s stock worth $2,282,000 after buying an additional 792 shares in the last quarter. Finally, Cox Capital Mgt LLC boosted its holdings in Sherwin-Williams by 2.3% during the second quarter. Cox Capital Mgt LLC now owns 1,904 shares of the specialty chemicals company’s stock worth $873,000 after buying an additional 42 shares in the last quarter. 76.70% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on the stock. Northcoast Research reissued a “neutral” rating on shares of Sherwin-Williams in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Sherwin-Williams from $435.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wolfe Research initiated coverage on shares of Sherwin-Williams in a report on Tuesday, October 8th. They set a “peer perform” rating and a $606.00 price objective on the stock. Buckingham Research increased their price objective on shares of Sherwin-Williams from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Friday, October 11th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $543.85.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 EPS for the quarter, beating the Zacks’ consensus estimate of $6.35 by $0.22. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $5.73 earnings per share. Equities research analysts anticipate that Sherwin-Williams Co will post 21.12 earnings per share for the current year.
In other news, Director David F. Hodnik sold 501 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.57, for a total value of $261,306.57. Following the completion of the sale, the director now directly owns 9,569 shares in the company, valued at $4,990,903.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David B. Sewell sold 4,709 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $493.52, for a total transaction of $2,323,985.68. Following the completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at $6,220,326.08. The disclosure for this sale can be found here. Insiders sold 12,121 shares of company stock valued at $6,134,153 over the last quarter. Company insiders own 0.50% of the company’s stock.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in 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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