The Sherwin-Williams Company (NYSE:SHW) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in The Sherwin-Williams Company (NYSE:SHW) by 97.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,221 shares of the specialty chemicals company’s stock after selling 91,117 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sherwin-Williams were worth $848,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its stake in shares of Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock valued at $694,000 after acquiring an additional 209 shares in the last quarter. Tamar Securities LLC grew its stake in shares of Sherwin-Williams by 3.4% during the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after acquiring an additional 1,604 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Sherwin-Williams by 7.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after acquiring an additional 193 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Sherwin-Williams by 24.1% during the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after acquiring an additional 1,514 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after acquiring an additional 4,074 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Stock Performance

SHW stock opened at $394.00 on Thursday. The company has a market capitalization of $99.23 billion, a price-to-earnings ratio of 39.24, a P/E/G ratio of 3.22 and a beta of 1.17. The firm has a 50 day moving average of $378.27 and a two-hundred day moving average of $345.96. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The Sherwin-Williams Company has a 12 month low of $272.34 and a 12 month high of $400.42.

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 the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company earned $3.20 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business 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 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 yield of 0.73%. Sherwin-Williams’s payout ratio is currently 28.49%.

Insider Buying and Selling at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,855 shares of company stock worth $12,572,756 over the last 90 days. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SHW shares. Morgan Stanley raised their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target 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. StockNews.com downgraded Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Barclays lifted their price target on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $396.47.

About Sherwin-Williams

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.