The Sherwin-Williams Company (NYSE:SHW – Get Rating) – Equities research analysts at Jefferies Financial Group raised their Q2 2022 earnings per share (EPS) estimates for shares of Sherwin-Williams in a research note issued on Tuesday, April 26th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will post earnings of $2.71 per share for the quarter, up from their prior estimate of $2.63. Jefferies Financial Group currently has a “Hold” rating and a $275.00 price target on the stock. Jefferies Financial Group also issued estimates for Sherwin-Williams’ Q3 2022 earnings at $2.85 EPS, Q4 2022 earnings at $2.28 EPS and FY2022 earnings at $9.45 EPS.
Several other equities analysts also recently issued reports on SHW. Loop Capital upped their price objective on shares of Sherwin-Williams from $300.00 to $315.00 in a research note on Wednesday. KeyCorp cut their price target on shares of Sherwin-Williams from $394.00 to $335.00 and set an “overweight” rating on the stock in a research note on Monday, January 31st. BMO Capital Markets downgraded shares of Sherwin-Williams from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $355.00 to $376.00 in a research note on Tuesday, January 4th. Royal Bank of Canada raised their target price on shares of Sherwin-Williams from $315.00 to $342.00 in a research note on Thursday. Finally, Morgan Stanley raised their target price on shares of Sherwin-Williams from $345.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, January 11th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $325.79.
Sherwin-Williams (NYSE:SHW – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. Sherwin-Williams had a net margin of 9.35% and a return on equity of 78.98%. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the prior year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in Sherwin-Williams by 123.4% during the second quarter. Morgan Stanley now owns 2,950,247 shares of the specialty chemicals company’s stock valued at $803,794,000 after purchasing an additional 1,629,745 shares in the last quarter. Van ECK Associates Corp grew its position in Sherwin-Williams by 9.4% during the third quarter. Van ECK Associates Corp now owns 23,617 shares of the specialty chemicals company’s stock valued at $6,606,000 after purchasing an additional 2,028 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in Sherwin-Williams by 81.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 913 shares of the specialty chemicals company’s stock valued at $255,000 after purchasing an additional 409 shares in the last quarter. Dai Ichi Life Insurance Company Ltd lifted its stake in Sherwin-Williams by 120.6% in the third quarter. Dai Ichi Life Insurance Company Ltd now owns 14,636 shares of the specialty chemicals company’s stock valued at $4,094,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Quilter Plc lifted its stake in Sherwin-Williams by 41.1% in the third quarter. Quilter Plc now owns 1,698 shares of the specialty chemicals company’s stock valued at $475,000 after acquiring an additional 495 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Allen J. Mistysyn purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were bought at an average cost of $253.91 per share, for a total transaction of $253,910.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John G. Morikis acquired 2,000 shares of the stock in a transaction dated Friday, February 25th. The stock was acquired at an average cost of $259.55 per share, for a total transaction of $519,100.00. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.85%. Sherwin-Williams’s dividend payout ratio is presently 34.48%.
Sherwin-Williams Company Profile (Get Rating)
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.
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