Sherwin-Williams Co. (SHW) Coverage Initiated by Analysts at Wells Fargo & Co.
Several other equities research analysts have also commented on the company. Zacks Investment Research upgraded Sherwin-Williams from a hold rating to a buy rating and set a $317.00 target price on the stock in a research report on Monday. Credit Agricole SA restated a buy rating and set a $350.00 target price on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Sterne Agee CRT upgraded Sherwin-Williams from a neutral rating to a buy rating in a research report on Thursday, August 25th. RBC Capital Markets restated an outperform rating and set a $335.00 target price on shares of Sherwin-Williams in a research report on Saturday, August 13th. Finally, Robert W. Baird restated an outperform rating and set a $330.00 target price on shares of Sherwin-Williams in a research report on Monday, July 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $324.31.
Shares of Sherwin-Williams (NYSE:SHW) opened at 281.92 on Wednesday. The stock’s 50 day moving average price is $284.31 and its 200-day moving average price is $291.05. Sherwin-Williams has a 52-week low of $220.43 and a 52-week high of $312.48. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 23.77 and a beta of 0.87.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, July 21st. The company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.16 by $0.10. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company earned $3.70 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts forecast that Sherwin-Williams will post $12.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 1.19%. Sherwin-Williams’s payout ratio is 28.84%.
In other Sherwin-Williams news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $300.16, for a total value of $1,156,516.48. Following the sale, the insider now owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SHW. Nikko Asset Management Americas Inc. purchased a new stake in Sherwin-Williams during the first quarter worth $114,000. Monetary Management Group Inc. purchased a new stake in Sherwin-Williams during the first quarter worth $121,000. NN Investment Partners Holdings N.V. purchased a new stake in Sherwin-Williams during the first quarter worth $142,000. PineBridge Investments L.P. increased its stake in Sherwin-Williams by 109.7% in the second quarter. PineBridge Investments L.P. now owns 520 shares of the company’s stock worth $153,000 after buying an additional 272 shares during the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in Sherwin-Williams during the first quarter worth $163,000. Institutional investors and hedge funds own 74.62% of the company’s stock.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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