Sherwin-Williams (NYSE:SHW) Price Target Cut to $334.00

Sherwin-Williams (NYSE:SHW) had its price target cut by Mizuho from $340.00 to $334.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other research analysts have also recently commented on SHW. Wolfe Research began coverage on shares of Sherwin-Williams in a report on Friday, March 1st. They set a peer perform rating for the company. Citigroup upped their target price on shares of Sherwin-Williams from $360.00 to $390.00 and gave the company a buy rating in a report on Wednesday, April 10th. Northcoast Research upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 target price for the company in a report on Tuesday, February 27th. Barclays upped their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a report on Monday, January 29th. Finally, StockNews.com upgraded shares of Sherwin-Williams from a hold rating to a buy rating in a report on Friday, March 8th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $341.39.

Sherwin-Williams Trading Up 0.5 %

NYSE SHW opened at $306.45 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37. The stock has a market capitalization of $77.98 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.47 and a beta of 1.15. The firm has a 50 day moving average of $328.05 and a two-hundred day moving average of $299.51.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS 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 analyst estimates of $5.50 billion. During the same quarter last year, the firm earned $2.04 EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that Sherwin-Williams will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

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

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, 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 transaction of $767,859.46. Following the completion of the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction 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 completion of 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 legal filing with the SEC, 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 stock was 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 of the company’s stock, 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 worth $10,340,237 in the last 90 days. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Sherwin-Williams

A number of large investors have recently bought and sold shares of SHW. First United Bank & Trust purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $31,000. OFI Invest Asset Management purchased a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $25,000. Tortoise Investment Management LLC increased its holdings in shares of Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Union Savings Bank purchased a new position in shares of Sherwin-Williams in the 3rd quarter valued at about $28,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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.