Kornitzer Capital Management Inc. KS Has $275,000 Position in The Sherwin-Williams Company (NYSE:SHW)

Kornitzer Capital Management Inc. KS lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 4.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 720 shares of the specialty chemicals company’s stock after buying an additional 29 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Sherwin-Williams were worth $275,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Sherwin-Williams by 1.0% during the third quarter. Principal Financial Group Inc. now owns 1,047,174 shares of the specialty chemicals company’s stock worth $399,675,000 after acquiring an additional 10,709 shares during the period. Graypoint LLC lifted its holdings in Sherwin-Williams by 35.5% during the 3rd quarter. Graypoint LLC now owns 1,501 shares of the specialty chemicals company’s stock worth $573,000 after purchasing an additional 393 shares during the last quarter. M&G PLC grew its holdings in Sherwin-Williams by 3.5% in the 3rd quarter. M&G PLC now owns 36,569 shares of the specialty chemicals company’s stock valued at $13,969,000 after buying an additional 1,225 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Sherwin-Williams by 12.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 12,682 shares of the specialty chemicals company’s stock worth $4,840,000 after buying an additional 1,432 shares during the period. Finally, Centennial Wealth Advisory LLC acquired a new stake in shares of Sherwin-Williams during the third quarter worth $611,000. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Trading Up 0.8 %

NYSE SHW opened at $387.00 on Friday. 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 company has a market cap of $97.47 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17. The Sherwin-Williams Company has a twelve month low of $251.69 and a twelve month high of $392.57. The business’s fifty day moving average is $374.21 and its 200 day moving average is $338.89.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.20 EPS. As a group, sell-side analysts expect that The Sherwin-Williams Company will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio is 28.49%.

Analysts Set New Price Targets

SHW has been the topic of a number of recent research reports. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Evercore ISI increased their price target on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their target price on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $396.47.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams 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 transaction of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.