Sherwin-Williams (NYSE:SHW) Given New $380.00 Price Target at Evercore ISI

Sherwin-Williams (NYSE:SHW) had its price objective trimmed by Evercore ISI from $385.00 to $380.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on the company. Robert W. Baird restated a neutral rating and set a $300.00 price target (up from $270.00) on shares of Sherwin-Williams in a research note on Wednesday, January 3rd. Argus lifted their price target on shares of Sherwin-Williams from $330.00 to $378.00 and gave the company a buy rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. increased their price objective on shares of Sherwin-Williams from $285.00 to $317.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their target price on shares of Sherwin-Williams from $310.00 to $320.00 and gave the company an equal weight rating in a report on Friday, January 26th. Finally, Wolfe Research assumed coverage on Sherwin-Williams in a report on Friday, March 1st. They issued a peer perform rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $325.94.

Sherwin-Williams Stock Down 1.8 %

Shares of NYSE:SHW opened at $308.35 on Tuesday. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The stock’s 50-day moving average price is $328.69 and its two-hundred day moving average price is $296.82. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25. The firm has a market cap of $78.46 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.52 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. Sherwin-Williams’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, research analysts forecast that Sherwin-Williams will post 11.44 EPS for the current year.

Sherwin-Williams Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were given a dividend of $0.715 per share. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, February 23rd. This represents a $2.86 annualized dividend and a dividend yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity at Sherwin-Williams

In other news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the sale, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock valued at $10,340,237 over the last three months. 0.60% of the stock is owned by insiders.

Institutional Trading of Sherwin-Williams

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Sherwin-Williams in the fourth quarter valued at approximately $1,176,356,000. FMR LLC increased its position in Sherwin-Williams by 65.4% in the 3rd quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock valued at $1,384,160,000 after acquiring an additional 2,146,102 shares during the period. Morgan Stanley raised its stake in Sherwin-Williams by 50.9% during the 4th quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after acquiring an additional 1,747,586 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in Sherwin-Williams during the 4th quarter worth $432,737,000. Finally, Capital World Investors grew its stake in shares of Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

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.