Sherwin-Williams (NYSE:SHW) Price Target Raised to $390.00

Sherwin-Williams (NYSE:SHW) had its price objective raised by Evercore ISI from $370.00 to $390.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Sherwin-Williams from a hold rating to a buy rating in a research report on Friday, March 8th. Mizuho lowered their price target on shares of Sherwin-Williams from $352.00 to $340.00 and set a buy rating for the company in a research note on Friday, January 26th. Seaport Res Ptn downgraded shares of Sherwin-Williams from a buy rating to a neutral rating in a research note on Monday, January 8th. Royal Bank of Canada lowered their price target on shares of Sherwin-Williams from $346.00 to $341.00 and set an outperform rating for the company in a research note on Friday, January 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Sherwin-Williams from $295.00 to $335.00 and gave the stock a buy rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sherwin-Williams has an average rating of Moderate Buy and a consensus price target of $320.39.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $347.33 on Tuesday. The stock has a fifty day simple moving average of $322.11 and a two-hundred day simple moving average of $289.79. Sherwin-Williams has a 1-year low of $211.91 and a 1-year high of $348.37. The firm has a market cap of $88.38 billion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.01. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The business’s quarterly revenue was up .4% on a year-over-year basis. Analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were issued a $0.715 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.86 annualized dividend and a dividend yield of 0.82%. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.61. Sherwin-Williams’s payout ratio is currently 30.92%.

Insider Activity

In other news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Sherwin-Williams

Several large investors have recently made changes to their positions in SHW. OFI Invest Asset Management purchased a new stake in Sherwin-Williams during the third quarter worth $25,000. Aspect Partners LLC purchased a new stake in Sherwin-Williams during the fourth quarter worth $25,000. Union Savings Bank purchased a new stake in Sherwin-Williams during the third quarter worth $28,000. Providence Capital Advisors LLC boosted its holdings in Sherwin-Williams by 44,853.3% during the first quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 6,728 shares in the last quarter. Finally, First United Bank & Trust purchased a new stake in Sherwin-Williams during the fourth quarter worth $31,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.