CI Investments Inc. Cuts Stake in The Sherwin-Williams Company (NYSE:SHW)

CI Investments Inc. cut its stake in The Sherwin-Williams Company (NYSE:SHWGet Rating) by 25.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,170 shares of the specialty chemicals company’s stock after selling 3,415 shares during the quarter. CI Investments Inc.’s holdings in Sherwin-Williams were worth $2,539,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. New England Professional Planning Group Inc. purchased a new stake in shares of Sherwin-Williams during the first quarter worth about $201,000. Rational Advisors LLC increased its position in shares of Sherwin-Williams by 126.5% during the fourth quarter. Rational Advisors LLC now owns 77 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 43 shares during the last quarter. Cornerstone Advisory LLC purchased a new stake in shares of Sherwin-Williams during the fourth quarter worth about $44,000. Lloyd Advisory Services LLC. increased its position in shares of Sherwin-Williams by 105.0% during the first quarter. Lloyd Advisory Services LLC. now owns 164 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 84 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in shares of Sherwin-Williams during the first quarter worth about $43,000. 77.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHW has been the topic of a number of analyst reports. Bank of America lowered Sherwin-Williams from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $313.00 to $292.00 in a research report on Wednesday, July 13th. Mizuho dropped their target price on Sherwin-Williams from $310.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Credit Suisse Group began coverage on Sherwin-Williams in a report on Tuesday, May 31st. They issued an “underperform” rating and a $245.00 price objective for the company. Evercore ISI lowered their price objective on Sherwin-Williams to $305.00 in a report on Thursday, June 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Sherwin-Williams from $315.00 to $275.00 in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Sherwin-Williams has an average rating of “Hold” and an average price target of $311.30.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $231.81 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 3.86. The stock has a 50 day simple moving average of $241.54 and a 200-day simple moving average of $251.82. The company has a market cap of $60.08 billion, a PE ratio of 34.86, a P/E/G ratio of 2.25 and a beta of 1.05. The Sherwin-Williams Company has a 12-month low of $214.22 and a 12-month high of $354.15.

Sherwin-Williams (NYSE:SHWGet Rating) last released its earnings results on Wednesday, July 27th. The specialty chemicals company reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.78 by ($0.37). The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $6.01 billion. Sherwin-Williams had a return on equity of 82.04% and a net margin of 8.45%. The business’s revenue for the quarter was down 46.6% on a year-over-year basis. During the same quarter last year, the company earned $2.65 earnings per share. On average, equities research analysts forecast that The Sherwin-Williams Company will post 8.65 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.04%. Sherwin-Williams’s dividend payout ratio (DPR) is 36.09%.

About Sherwin-Williams

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The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through 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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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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