Sherwin-Williams (NYSE:SHW) PT Lowered to $380.00

Sherwin-Williams (NYSE:SHW) had its target price decreased by Evercore ISI from $385.00 to $380.00 in a report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently issued reports on SHW. Wolfe Research assumed coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a peer perform rating for the company. Wells Fargo & Company raised their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an equal weight rating in a report on Friday, January 26th. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $285.00 to $317.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Royal Bank of Canada dropped their target price on Sherwin-Williams from $346.00 to $341.00 and set an outperform rating on the stock in a research report on Friday, January 26th. Finally, UBS Group upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and increased their target price for the stock from $312.00 to $402.00 in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Sherwin-Williams has an average rating of Moderate Buy and a consensus target price of $325.94.

Sherwin-Williams Stock Down 1.8 %

Shares of Sherwin-Williams stock opened at $308.35 on Tuesday. The stock has a market cap of $78.46 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business has a fifty day simple moving average of $328.69 and a 200 day simple moving average of $296.82. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. Research analysts predict that Sherwin-Williams will post 11.44 EPS for the current year.

Sherwin-Williams Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were given a dividend of $0.715 per share. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.86 annualized dividend and a yield of 0.93%. Sherwin-Williams’s dividend payout ratio is currently 30.92%.

Insider Activity

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred 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 directly owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred 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 directly owns 6,329 shares in the company, valued at approximately $2,029,710.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHW. OFI Invest Asset Management bought a new position in Sherwin-Williams in the third quarter valued at about $25,000. Aspect Partners LLC bought a new position in Sherwin-Williams in the 4th quarter valued at approximately $25,000. Union Savings Bank bought a new position in shares of Sherwin-Williams during the third quarter valued at $28,000. Providence Capital Advisors LLC lifted its holdings in shares of Sherwin-Williams by 44,853.3% during the first quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 6,728 shares during the period. Finally, First United Bank & Trust bought a new stake in shares of Sherwin-Williams in the fourth quarter worth $31,000. 77.67% of the stock is currently owned by institutional investors.

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.