Canoe Financial LP Raises Holdings in The Sherwin-Williams Company (NYSE:SHW)

Canoe Financial LP raised its holdings in The Sherwin-Williams Company (NYSE:SHW) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 354,107 shares of the specialty chemicals company’s stock after purchasing an additional 14,400 shares during the period. Sherwin-Williams accounts for about 2.0% of Canoe Financial LP’s holdings, making the stock its 23rd biggest position. Canoe Financial LP owned 0.14% of Sherwin-Williams worth $123,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Coppell Advisory Solutions LLC lifted its holdings in Sherwin-Williams by 2.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company’s stock worth $388,000 after purchasing an additional 30 shares in the last quarter. Opal Wealth Advisors LLC raised its stake in shares of Sherwin-Williams by 4.2% during the first quarter. Opal Wealth Advisors LLC now owns 791 shares of the specialty chemicals company’s stock worth $276,000 after acquiring an additional 32 shares in the last quarter. Ashton Thomas Securities LLC boosted its position in Sherwin-Williams by 1.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 2,228 shares of the specialty chemicals company’s stock valued at $757,000 after buying an additional 34 shares during the period. WR Wealth Planners LLC grew its position in Sherwin-Williams by 41.7% during the 4th quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 35 shares during the last quarter. Finally, Avantax Planning Partners Inc. grew its holdings in shares of Sherwin-Williams by 2.4% in the fourth quarter. Avantax Planning Partners Inc. now owns 1,515 shares of the specialty chemicals company’s stock worth $515,000 after purchasing an additional 35 shares during the last quarter. 77.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SHW shares. UBS Group reduced their price target on Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company raised shares of Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Mizuho set a $395.00 price target on shares of Sherwin-Williams in a research note on Tuesday, April 15th. Barclays cut their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Finally, Citigroup lowered Sherwin-Williams from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $405.00 to $385.00 in a report on Friday, June 13th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $397.67.

Sherwin-Williams Stock Performance

SHW opened at $332.89 on Friday. The company’s 50 day moving average is $348.31 and its 200 day moving average is $349.76. The company has a current ratio of 0.77, a quick ratio of 0.45 and a debt-to-equity ratio of 1.90. The company has a market cap of $83.42 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 3.01 and a beta of 1.21. The Sherwin-Williams Company has a 12-month low of $292.27 and a 12-month high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.02. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.17 EPS. On average, equities research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 29.87%.

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.