Sherwin-Williams Co. (SHW) Upgraded to “Buy” by Argus
Several other equities analysts also recently weighed in on SHW. Morgan Stanley restated a buy rating on shares of Sherwin-Williams in a research report on Thursday, June 16th. Zacks Investment Research downgraded Sherwin-Williams from a hold rating to a sell rating in a research report on Monday, June 27th. Seaport Global Securities downgraded Sherwin-Williams from an accumulate rating to a neutral rating and set a $320.00 target price on the stock. in a research report on Monday, July 11th. Robert W. Baird restated an outperform rating and issued a $330.00 target price on shares of Sherwin-Williams in a research report on Monday, July 25th. Finally, RBC Capital Markets restated an outperform rating and issued a $335.00 target price on shares of Sherwin-Williams in a research report on Saturday, August 13th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Sherwin-Williams has a consensus rating of Buy and a consensus price target of $324.85.
Shares of Sherwin-Williams (NYSE:SHW) traded down 0.90% during trading on Monday, reaching $268.30. The company’s stock had a trading volume of 62,980 shares. The stock has a 50 day moving average of $279.90 and a 200-day moving average of $290.53. The company has a market capitalization of $24.63 billion, a PE ratio of 22.62 and a beta of 0.92. Sherwin-Williams has a 1-year low of $234.96 and a 1-year high of $312.48.
Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.16 by $0.10. The firm earned $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.70 EPS. On average, analysts expect that Sherwin-Williams will post $12.64 earnings per share for the current year.
In other Sherwin-Williams news, insider Joel D. Baxter sold 3,853 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the completion of the sale, the insider now directly owns 8,347 shares of the company’s stock, valued at approximately $2,505,435.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John G. Morikis sold 30,353 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the sale, the chief executive officer now directly owns 119,804 shares of the company’s stock, valued at $35,791,445. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Nikko Asset Management Americas Inc. bought a new stake in Sherwin-Williams during the first quarter valued at approximately $114,000. Monetary Management Group Inc. bought a new stake in Sherwin-Williams during the first quarter valued at approximately $121,000. NN Investment Partners Holdings N.V. bought a new stake in Sherwin-Williams during the first quarter valued at approximately $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 valued at $153,000 after buying an additional 272 shares in the last quarter. Finally, SevenBridge Financial Group LLC bought a new stake in Sherwin-Williams during the first quarter valued at approximately $163,000. 74.62% of the stock is owned by hedge funds and other institutional investors.
Sherwin-Williams Company Profile
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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