BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $15.34 Million Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in The Sherwin-Williams Company (NYSE:SHW) by 13.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,194 shares of the specialty chemicals company’s stock after selling 6,039 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Sherwin-Williams were worth $15,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SHW. FMR LLC grew its stake in Sherwin-Williams by 18.2% during the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock worth $2,474,238,000 after purchasing an additional 999,164 shares during the period. PineStone Asset Management Inc. grew its stake in Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares during the period. Assenagon Asset Management S.A. grew its stake in Sherwin-Williams by 610.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock worth $311,971,000 after purchasing an additional 898,143 shares during the period. International Assets Investment Management LLC grew its stake in Sherwin-Williams by 40,317.4% during the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after purchasing an additional 724,907 shares during the period. Finally, Jensen Investment Management Inc. acquired a new stake in Sherwin-Williams during the second quarter worth approximately $169,770,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $397.40 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The business has a fifty day simple moving average of $378.94 and a two-hundred day simple moving average of $347.10. The Sherwin-Williams Company has a 1 year low of $272.34 and a 1 year high of $400.42. The company has a market capitalization of $100.09 billion, a P/E ratio of 39.58, a P/E/G ratio of 3.20 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the business earned $3.20 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

Insider Activity

In related news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the sale, the senior vice president now directly owns 29,205 shares in the company, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SHW shares. Wells Fargo & Company raised their target price on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their target price on Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Citigroup cut their price target on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.47.

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.