Sherwin-Williams (NYSE:SHW) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sherwin-Williams (NYSE:SHW) from an equal weight rating to an overweight rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has $420.00 target price on the specialty chemicals company’s stock, up from their previous target price of $350.00.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a research report on Friday, January 31st. Citigroup dropped their price target on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Mizuho set a $395.00 price target on shares of Sherwin-Williams in a report on Tuesday, April 15th. Berenberg Bank upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and boosted their target price for the stock from $321.00 to $420.00 in a research report on Friday, January 24th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $397.00.

Sherwin-Williams Trading Up 1.7 %

NYSE SHW opened at $359.74 on Wednesday. Sherwin-Williams has a one year low of $282.09 and a one year high of $400.42. The firm has a market cap of $90.48 billion, a PE ratio of 34.10, a P/E/G ratio of 2.98 and a beta of 1.24. The firm’s fifty day moving average is $342.22 and its two-hundred day moving average is $356.33. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that Sherwin-Williams will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, May 16th. Sherwin-Williams’s payout ratio is currently 29.87%.

Insider Transactions at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the sale, the insider now owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

Large investors have recently made changes to their positions in the stock. Midwest Capital Advisors LLC acquired a new stake in Sherwin-Williams during the fourth quarter worth approximately $26,000. Perkins Coie Trust Co purchased a new position in shares of Sherwin-Williams during the 1st quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth $27,000. Lee Danner & Bass Inc. purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at $28,000. Finally, Synergy Investment Management LLC increased its stake in Sherwin-Williams by 583.3% in the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 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.