Sherwin-Williams (NYSE:SHW) Price Target Lowered to $365.00 at Bank of America

Sherwin-Williams (NYSE:SHW) had its price target cut by Bank of America from $370.00 to $365.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other brokerages have also commented on SHW. Citigroup decreased their target price on Sherwin-Williams from $410.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada decreased their target price on Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. UBS Group decreased their target price on Sherwin-Williams from $420.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price for the company in a research report on Wednesday, January 7th. Finally, Zacks Research raised Sherwin-Williams from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $379.08.

Sherwin-Williams Stock Down 2.8%

Shares of NYSE:SHW opened at $334.36 on Tuesday. The company has a market capitalization of $82.71 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.98 and a beta of 1.27. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The business’s 50-day moving average is $336.43 and its 200-day moving average is $338.34. Sherwin-Williams has a 1 year low of $301.58 and a 1 year high of $379.65.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.07. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Sherwin-Williams will post 11.89 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.79. Sherwin-Williams’s dividend payout ratio is presently 31.16%.

Insider Buying and Selling

In other Sherwin-Williams news, SVP Bryan J. Young sold 2,513 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. The trade was a 20.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total value of $1,069,872.00. Following the sale, the insider directly owned 5,365 shares of the company’s stock, valued at $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.23% of the company’s stock.

Institutional Trading of Sherwin-Williams

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $27,000. Lloyd Advisory Services LLC. bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $30,000. Lodestone Wealth Management LLC bought a new stake in Sherwin-Williams during the 4th quarter worth approximately $31,000. Finally, Rossby Financial LCC boosted its stake in shares of Sherwin-Williams by 96.0% in the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 48 shares during the last quarter. 77.67% of the stock is owned by institutional investors.

About Sherwin-Williams

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.