Sherwin-Williams (NYSE:SHW) PT Lowered to $370.00 at Royal Bank of Canada

Sherwin-Williams (NYSE:SHW) had its price target decreased by Royal Bank of Canada from $380.00 to $370.00 in a report released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

SHW has been the topic of a number of other reports. Northcoast Research raised Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target on the stock in a research note on Tuesday, February 27th. KeyCorp raised Sherwin-Williams from a sector weight rating to an overweight rating and set a $400.00 price target on the stock in a research note on Thursday. Robert W. Baird lifted their price target on Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a research note on Wednesday. Wolfe Research initiated coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Finally, UBS Group raised Sherwin-Williams from a neutral rating to a buy rating and lifted their price target for the stock from $312.00 to $402.00 in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams presently has an average rating of Moderate Buy and a consensus price target of $341.39.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $306.45 on Thursday. The stock has a market cap of $77.98 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 2.47 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The stock’s 50-day moving average is $328.05 and its 200 day moving average is $299.51.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 earnings per share. On average, sell-side analysts anticipate that Sherwin-Williams will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.93%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction 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 transaction, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. First Hawaiian Bank raised its stake in shares of Sherwin-Williams by 0.5% in the fourth quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock worth $2,358,000 after purchasing an additional 34 shares during the last quarter. Tsfg LLC increased its position in Sherwin-Williams by 4.7% during the fourth quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock valued at $235,000 after acquiring an additional 34 shares during the last quarter. Manchester Capital Management LLC increased its position in Sherwin-Williams by 5.5% during the fourth quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock valued at $208,000 after acquiring an additional 35 shares during the last quarter. Tealwood Asset Management Inc. increased its position in Sherwin-Williams by 0.7% during the first quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock valued at $1,706,000 after acquiring an additional 35 shares during the last quarter. Finally, Ellsworth Advisors LLC increased its position in Sherwin-Williams by 0.9% during the fourth quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company’s stock valued at $1,281,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors 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.