Evercore ISI Trims Sherwin-Williams (NYSE:SHW) Target Price to $380.00

Sherwin-Williams (NYSE:SHW) had its price target reduced by Evercore ISI from $385.00 to $380.00 in a report published on Tuesday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently issued reports on SHW. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $285.00 to $317.00 and gave the company an overweight rating in a research report on Friday, January 26th. Mizuho lowered their target price on shares of Sherwin-Williams from $352.00 to $340.00 and set a buy rating for the company in a report on Friday, January 26th. Robert W. Baird reiterated a neutral rating and set a $300.00 price target (up from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. StockNews.com upgraded Sherwin-Williams from a hold rating to a buy rating in a research report on Friday, March 8th. Finally, Barclays raised their price target on Sherwin-Williams from $285.00 to $315.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $325.94.

Sherwin-Williams Trading Down 1.1 %

Shares of SHW stock opened at $305.96 on Tuesday. The stock’s 50-day moving average price is $328.52 and its 200-day moving average price is $297.37. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The stock has a market capitalization of $77.86 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 EPS. Equities research analysts predict that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Sherwin-Williams during the 4th quarter valued at about $1,176,356,000. FMR LLC raised its position in Sherwin-Williams by 65.4% during the 3rd quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock worth $1,384,160,000 after buying an additional 2,146,102 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Sherwin-Williams by 50.9% in the 4th quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after acquiring an additional 1,747,586 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Sherwin-Williams during the fourth quarter worth $432,737,000. Finally, Capital World Investors boosted its holdings in Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after purchasing an additional 1,075,351 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

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.