Sherwin-Williams (NYSE:SHW) Price Target Raised to $360.00

Sherwin-Williams (NYSE:SHW) had its price objective hoisted by Robert W. Baird from $350.00 to $360.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other research analysts have also weighed in on the stock. Evercore ISI increased their price objective on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. BMO Capital Markets lifted their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Sherwin-Williams Stock Down 0.7 %

Shares of NYSE:SHW opened at $359.04 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company has a market cap of $91.03 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.87 and a beta of 1.17. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $392.57. The firm’s 50-day simple moving average is $372.00 and its 200-day simple moving average is $335.02.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.20 earnings per share. As a group, equities research analysts predict that Sherwin-Williams will post 11.31 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.80%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SHW. Hudson Valley Investment Advisors Inc. ADV grew its holdings in Sherwin-Williams by 1.7% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,061 shares of the specialty chemicals company’s stock valued at $7,657,000 after purchasing an additional 333 shares during the last quarter. SteelPeak Wealth LLC increased its position in shares of Sherwin-Williams by 790.9% during the third quarter. SteelPeak Wealth LLC now owns 1,176 shares of the specialty chemicals company’s stock valued at $449,000 after purchasing an additional 1,044 shares during the period. Pinnacle Associates Ltd. raised its position in Sherwin-Williams by 2.4% in the third quarter. Pinnacle Associates Ltd. now owns 3,044 shares of the specialty chemicals company’s stock worth $1,162,000 after purchasing an additional 71 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Sherwin-Williams by 17.9% during the third quarter. First Trust Direct Indexing L.P. now owns 8,739 shares of the specialty chemicals company’s stock valued at $3,335,000 after acquiring an additional 1,324 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Sherwin-Williams by 511.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,572 shares of the specialty chemicals company’s stock valued at $5,269,000 after acquiring an additional 12,189 shares during the last quarter. 77.67% of the stock is 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.