Sherwin-Williams (NYSE:SHW) Shares Gap Up to $322.35

Shares of The Sherwin-Williams Company (NYSE:SHW) gapped up prior to trading on Tuesday . The stock had previously closed at $322.35, but opened at $339.00. Sherwin-Williams shares last traded at $334.38, with a volume of 744,409 shares traded.

Analysts Set New Price Targets

SHW has been the subject of several analyst reports. Loop Capital cut their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Robert W. Baird raised their target price on Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Mizuho cut their target price on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Citigroup cut their target price on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada cut their target price on Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.65.

Sherwin-Williams Price Performance

The company has a 50 day moving average price of $305.02 and a 200 day moving average price of $313.73. The company has a market capitalization of $85.51 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.69 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHW) last released its 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 net margin of 10.52% and a return on equity of 73.74%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the business posted $2.04 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that The Sherwin-Williams Company will post 11.41 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.85%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Institutional Investors Weigh In On Sherwin-Williams

Institutional investors have recently made changes to their positions in the stock. First United Bank & Trust acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth $31,000. Tortoise Investment Management LLC lifted its holdings in Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 65 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Sherwin-Williams during the fourth quarter worth about $35,000. Wetzel Investment Advisors Inc. bought a new position in Sherwin-Williams during the fourth quarter worth about $36,000. Finally, Friedenthal Financial bought a new position in Sherwin-Williams during the fourth quarter worth about $46,000. 77.67% of the stock is owned by institutional investors and hedge funds.

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.