Sherwin-Williams (NYSE:SHW) Lifted to Overweight at KeyCorp

Sherwin-Williams (NYSE:SHW) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat.com reports. The firm currently has a $400.00 price objective on the specialty chemicals company’s stock. KeyCorp’s price objective points to a potential upside of 30.53% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Seaport Res Ptn cut Sherwin-Williams from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Royal Bank of Canada reduced their price objective on Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered their target price on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Barclays boosted their target price on Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $337.37.

Sherwin-Williams Stock Up 0.5 %

Shares of NYSE SHW opened at $306.45 on Thursday. The business has a 50-day moving average price of $328.05 and a 200 day moving average price of $299.19. The stock has a market cap of $77.98 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. 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.

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). The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. Sherwin-Williams’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.04 EPS. Equities research analysts forecast that Sherwin-Williams will post 11.44 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the sale, the senior vice president now owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at $4,935,302.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mary L. Garceau sold 23,518 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the sale, the senior vice president now directly owns 28,475 shares in the company, valued at approximately $9,187,743.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,050 shares of company stock valued at $10,340,237. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Group LLC acquired a new stake in Sherwin-Williams during the 1st quarter valued at $34,316,000. YHB Investment Advisors Inc. raised its holdings in shares of Sherwin-Williams by 9.0% in the first quarter. YHB Investment Advisors Inc. now owns 1,414 shares of the specialty chemicals company’s stock worth $491,000 after acquiring an additional 117 shares during the last quarter. SlateStone Wealth LLC purchased a new stake in shares of Sherwin-Williams in the first quarter valued at $1,103,000. First National Trust Co boosted its stake in shares of Sherwin-Williams by 6.2% during the first quarter. First National Trust Co now owns 721 shares of the specialty chemicals company’s stock valued at $250,000 after acquiring an additional 42 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Sherwin-Williams during the 1st quarter worth about $721,000. 77.67% of the stock is currently 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.