Cidel Asset Management Inc. Makes New $214,000 Investment in The Sherwin-Williams Company $SHW

Cidel Asset Management Inc. acquired a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 624 shares of the specialty chemicals company’s stock, valued at approximately $214,000.

Several other institutional investors have also made changes to their positions in SHW. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sherwin-Williams by 21.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company’s stock valued at $3,023,126,000 after buying an additional 1,505,341 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $265,510,000. Assenagon Asset Management S.A. lifted its holdings in shares of Sherwin-Williams by 601.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 839,756 shares of the specialty chemicals company’s stock valued at $288,339,000 after buying an additional 719,965 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Sherwin-Williams by 223.1% during the 1st quarter. National Bank of Canada FI now owns 615,375 shares of the specialty chemicals company’s stock valued at $214,883,000 after buying an additional 424,930 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Sherwin-Williams by 367.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 537,216 shares of the specialty chemicals company’s stock valued at $187,590,000 after buying an additional 422,410 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the transaction, the chief accounting officer directly owned 377 shares of the company’s stock, valued at $132,081.95. The trade was a 69.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $368.82, for a total value of $224,611.38. Following the sale, the insider directly owned 17,922 shares in the company, valued at $6,609,992.04. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHW has been the subject of several research reports. Citigroup reiterated a “neutral” rating and set a $380.00 price target (up from $375.00) on shares of Sherwin-Williams in a report on Monday, October 6th. Bank of America cut their price objective on Sherwin-Williams from $375.00 to $368.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Mizuho cut their price objective on Sherwin-Williams from $400.00 to $385.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. BMO Capital Markets cut their price objective on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Finally, Evercore ISI raised their price objective on Sherwin-Williams from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.13.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $330.72 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $352.74 and its two-hundred day moving average is $347.94. The company has a market cap of $82.46 billion, a P/E ratio of 32.81, a P/E/G ratio of 3.10 and a beta of 1.20. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing the consensus estimate of $3.76 by ($0.38). The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.70 earnings per share. On average, equities analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

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.