Sherwin-Williams Co. (SHW) Now Covered by Atlantic Securities
Atlantic Securities began coverage on shares of Sherwin-Williams Co. (NYSE:SHW) in a research report issued on Tuesday. The brokerage set an “overweight” rating on the stock.
A number of other brokerages have also issued reports on SHW. 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. Sterne Agee CRT upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Zacks Investment Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target on the stock in a report on Monday, September 26th. Wells Fargo & Co. assumed coverage on shares of Sherwin-Williams in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Finally, reiterated a “buy” rating and issued a $350.00 price target on shares of Sherwin-Williams in a report on Wednesday, September 14th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Sherwin-Williams has a consensus rating of “Buy” and a consensus target price of $322.56.
Shares of Sherwin-Williams (NYSE:SHW) opened at 274.02 on Tuesday. Sherwin-Williams has a 52-week low of $234.96 and a 52-week high of $312.48. The stock has a market cap of $25.21 billion, a price-to-earnings ratio of 22.86 and a beta of 0.98. The stock’s 50 day moving average price is $261.26 and its 200-day moving average price is $282.71.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 25th. The company reported $4.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.32 by $0.09. Sherwin-Williams had a return on equity of 97.87% and a net margin of 9.50%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $3.97 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Sherwin-Williams will post $12.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 28.57%.
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In other news, Director John M. Stropki purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were purchased at an average price of $247.30 per share, with a total value of $123,650.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.89% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its stake in Sherwin-Williams by 1,536.0% in the third quarter. NEXT Financial Group Inc now owns 409 shares of the company’s stock valued at $113,000 after buying an additional 384 shares during the last quarter. TLP Group LLC bought a new stake in Sherwin-Williams during the third quarter valued at $120,000. Carroll Financial Associates Inc. increased its stake in Sherwin-Williams by 2.9% in the third quarter. Carroll Financial Associates Inc. now owns 465 shares of the company’s stock valued at $128,000 after buying an additional 13 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in Sherwin-Williams during the third quarter valued at $138,000. Finally, 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 during the last quarter. 72.93% of the stock is currently 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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