Sherwin-Williams (NYSE:SHW) PT Lowered to $370.00

Sherwin-Williams (NYSE:SHW) had its price objective decreased by equities research analysts at Citigroup from $390.00 to $370.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s target price would indicate a potential upside of 20.74% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $377.00 price objective (down previously from $385.00) on shares of Sherwin-Williams in a research report on Wednesday. Northcoast Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price objective for the company in a research report on Tuesday, February 27th. Wells Fargo & Company upped their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Finally, Robert W. Baird increased their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.37.

Sherwin-Williams Trading Up 0.5 %

SHW stock opened at $306.45 on Thursday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. The company’s 50-day simple moving average is $328.05 and its 200 day simple moving average is $299.19. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37. The company has a market capitalization of $77.98 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the company earned $2.04 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current year.

Insider Activity

In other news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of the 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 sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock valued at $10,340,237 over the last quarter. 0.60% of the stock is owned by company insiders.

Institutional Trading of Sherwin-Williams

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Sherwin-Williams by 16.2% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,568 shares of the specialty chemicals company’s stock worth $12,132,000 after buying an additional 6,639 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Sherwin-Williams during the 4th quarter worth approximately $38,444,000. Machina Capital S.A.S. grew its position in shares of Sherwin-Williams by 149.0% during the 3rd quarter. Machina Capital S.A.S. now owns 9,695 shares of the specialty chemicals company’s stock worth $2,473,000 after buying an additional 5,801 shares during the period. AIA Group Ltd grew its position in shares of Sherwin-Williams by 20.8% during the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock worth $5,088,000 after buying an additional 2,810 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in shares of Sherwin-Williams during the 3rd quarter worth approximately $4,517,000. 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.