Mackenzie Financial Corp Increases Stake in The Sherwin-Williams Company (NYSE:SHW)

Mackenzie Financial Corp grew its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 44.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,079 shares of the specialty chemicals company's stock after buying an additional 122,890 shares during the period. Mackenzie Financial Corp owned 0.16% of Sherwin-Williams worth $135,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in Sherwin-Williams during the fourth quarter valued at $26,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams in the fourth quarter worth $28,000. Sierra Ocean LLC purchased a new position in Sherwin-Williams during the fourth quarter worth $36,000. WR Wealth Planners LLC increased its position in Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company's stock valued at $40,000 after acquiring an additional 35 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in shares of Sherwin-Williams during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Stock Performance

SHW traded up $0.93 during midday trading on Thursday, hitting $355.66. 726,442 shares of the company were exchanged, compared to its average volume of 1,754,630. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42. The company's 50 day simple moving average is $344.22 and its 200 day simple moving average is $354.28. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the previous year, the company posted $2.17 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $3.16 annualized dividend and a dividend yield of 0.89%. Sherwin-Williams's payout ratio is 29.87%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHW. Royal Bank of Canada increased their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and issued a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Citigroup lowered their price target on shares of Sherwin-Williams from $423.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company raised shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $350.00 to $420.00 in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their price target on Sherwin-Williams from $370.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Sherwin-Williams has an average rating of "Moderate Buy" and a consensus target price of $397.00.

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.