Sherwin-Williams (NYSE:SHW) Price Target Cut to $355.00

Sherwin-Williams (NYSE:SHW) had its price target cut by UBS Group from $385.00 to $355.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other brokerages have also commented on SHW. BMO Capital Markets dropped their price objective on Sherwin-Williams from $377.00 to $360.00 and set an outperform rating on the stock in a report on Wednesday, June 12th. Evercore ISI boosted their price target on shares of Sherwin-Williams from $360.00 to $365.00 and gave the stock an outperform rating in a report on Tuesday, May 14th. StockNews.com downgraded shares of Sherwin-Williams from a buy rating to a hold rating in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Finally, Loop Capital decreased their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $340.65.

Sherwin-Williams Price Performance

NYSE:SHW opened at $314.16 on Tuesday. The company has a 50 day moving average price of $304.27 and a 200-day moving average price of $312.93. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $348.37. The firm has a market cap of $79.66 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46.

Sherwin-Williams (NYSE:SHW) last issued 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). 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 during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the company posted $2.04 EPS. The company’s revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Sherwin-Williams will post 11.43 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Institutional Trading of Sherwin-Williams

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Sherwin-Williams by 0.9% in the first quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after acquiring an additional 184,979 shares during the period. Capital World Investors grew its holdings in shares of Sherwin-Williams by 38.9% during 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 period. Norges Bank acquired a new stake in shares of Sherwin-Williams during the 4th quarter worth about $1,176,356,000. Clearbridge Investments LLC raised its holdings in Sherwin-Williams by 4.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock valued at $866,862,000 after buying an additional 116,647 shares during the period. Finally, Capital Research Global Investors lifted its position in Sherwin-Williams by 2.3% in the fourth quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock valued at $791,008,000 after buying an additional 56,161 shares during 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.