Sherwin-Williams (NYSE:SHW) Price Target Cut to $380.00

Sherwin-Williams (NYSE:SHW) had its target price trimmed by Loop Capital from $395.00 to $380.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

Other research analysts have also issued research reports about the company. Wolfe Research started coverage on Sherwin-Williams in a research report on Friday, March 1st. They set a peer perform rating for the company. Robert W. Baird boosted their price target on Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a research report on Wednesday. Northcoast Research upgraded Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target for the company in a research report on Tuesday, February 27th. Citigroup boosted their price target on Sherwin-Williams from $360.00 to $390.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Mizuho cut their price objective on Sherwin-Williams from $352.00 to $340.00 and set a buy rating for the company in a report on Friday, January 26th. One research 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, the stock presently has an average rating of Moderate Buy and a consensus price target of $337.37.

Sherwin-Williams Price Performance

Shares of SHW opened at $306.45 on Wednesday. The company has a market cap of $77.98 billion, a P/E ratio of 32.67, a PEG ratio of 2.41 and a beta of 1.15. The stock has a fifty day moving average price of $328.05 and a 200 day moving average price of $299.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the firm posted $2.04 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

Insider Activity

In other news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now directly 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 can be accessed through this link. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares in the company, valued at $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. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Sherwin-Williams by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock valued at $6,685,876,000 after buying an additional 179,274 shares during the period. 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 worth $1,384,160,000 after purchasing an additional 2,146,102 shares during the last quarter. Morgan Stanley increased its position in Sherwin-Williams by 1.5% in the 3rd quarter. Morgan Stanley now owns 5,063,957 shares of the specialty chemicals company’s stock worth $1,291,563,000 after purchasing an additional 75,571 shares during the last quarter. Capital World Investors increased its position in Sherwin-Williams by 38.9% in the 4th 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 during the last quarter. Finally, Norges Bank acquired a new position in Sherwin-Williams in the 4th quarter worth about $1,176,356,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Company Profile

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.