Connor Clark & Lunn Investment Management Ltd. Acquires 38,220 Shares of The Sherwin-Williams Company (NYSE:SHW)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 767.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,197 shares of the specialty chemicals company’s stock after purchasing an additional 38,220 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Sherwin-Williams were worth $11,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC raised its stake in shares of The Sherwin-Williams by 11.4% during the 1st quarter. Ballentine Partners LLC now owns 342 shares of the specialty chemicals company’s stock worth $252,000 after purchasing an additional 35 shares during the period. First Foundation Advisors raised its stake in The Sherwin-Williams by 7.9% in the 1st quarter. First Foundation Advisors now owns 506 shares of the specialty chemicals company’s stock valued at $373,000 after acquiring an additional 37 shares during the period. tru Independence LLC raised its stake in The Sherwin-Williams by 8.3% in the 1st quarter. tru Independence LLC now owns 521 shares of the specialty chemicals company’s stock valued at $384,000 after acquiring an additional 40 shares during the period. JLB & Associates Inc. raised its stake in The Sherwin-Williams by 0.7% in the 1st quarter. JLB & Associates Inc. now owns 6,215 shares of the specialty chemicals company’s stock valued at $4,586,000 after acquiring an additional 41 shares during the period. Finally, BSW Wealth Partners raised its stake in The Sherwin-Williams by 13.6% in the 1st quarter. BSW Wealth Partners now owns 350 shares of the specialty chemicals company’s stock valued at $258,000 after acquiring an additional 42 shares during the period. Institutional investors own 75.94% of the company’s stock.

Shares of The Sherwin-Williams stock opened at $291.80 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.84 and a debt-to-equity ratio of 2.68. The company has a market cap of $76.83 billion, a PE ratio of 36.61, a P/E/G ratio of 2.60 and a beta of 1.08. The business has a 50 day moving average of $297.27 and a 200 day moving average of $281.73. The Sherwin-Williams Company has a 52 week low of $218.06 and a 52 week high of $310.43.

The Sherwin-Williams (NYSE:SHW) last announced its earnings results on Monday, July 26th. The specialty chemicals company reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.03). The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.39 billion. The Sherwin-Williams had a net margin of 11.05% and a return on equity of 72.71%. The Sherwin-Williams’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.10 EPS. On average, research analysts anticipate that The Sherwin-Williams Company will post 9.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 20th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. The Sherwin-Williams’s dividend payout ratio is presently 26.86%.

In other news, CEO John G. Morikis sold 155,520 shares of the stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $288.92, for a total value of $44,932,838.40. Following the sale, the chief executive officer now directly owns 433,251 shares of the company’s stock, valued at $125,174,878.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Allen J. Mistysyn sold 22,749 shares of the stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $286.46, for a total value of $6,516,678.54. Following the completion of the sale, the chief financial officer now directly owns 41,099 shares in the company, valued at $11,773,219.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,997 shares of company stock worth $62,880,055. 0.51% of the stock is owned by insiders.

SHW has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on The Sherwin-Williams from $315.00 to $345.00 and gave the company an “overweight” rating in a report on Friday, August 20th. Royal Bank of Canada reduced their target price on The Sherwin-Williams from $350.00 to $340.00 and set an “outperform” rating for the company in a report on Thursday, September 9th. KeyCorp boosted their price objective on The Sherwin-Williams from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Loop Capital boosted their price objective on The Sherwin-Williams from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, June 9th. Finally, JPMorgan Chase & Co. boosted their price objective on The Sherwin-Williams from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, September 9th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $331.75.

About The Sherwin-Williams

The Sherwin-Williams Co engages in the manufacture and trade of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor covering.

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Institutional Ownership by Quarter for The Sherwin-Williams (NYSE:SHW)

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