Sherwin-Williams (NYSE:SHW) had its price objective increased by Royal Bank of Canada from $655.00 to $700.00 in a report released on Wednesday, The Fly reports. They currently have an outperform rating on the specialty chemicals company’s stock.
A number of other analysts have also recently weighed in on SHW. Morgan Stanley boosted their price objective on shares of Sherwin-Williams from $600.00 to $625.00 and gave the stock an overweight rating in a research note on Thursday, June 25th. Stifel Nicolaus reaffirmed a hold rating on shares of Sherwin-Williams in a research report on Thursday, April 30th. Credit Suisse Group boosted their target price on shares of Sherwin-Williams from $590.00 to $600.00 and gave the stock an outperform rating in a research report on Thursday, April 30th. BMO Capital Markets boosted their target price on shares of Sherwin-Williams from $550.00 to $590.00 and gave the stock a market perform rating in a research report on Tuesday, June 23rd. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their target price on shares of Sherwin-Williams from $640.00 to $675.00 and gave the stock an overweight rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $641.95.
Shares of Sherwin-Williams stock opened at $647.92 on Wednesday. The firm has a fifty day simple moving average of $588.73 and a 200-day simple moving average of $550.00. The company has a current ratio of 1.10, a quick ratio of 0.57 and a debt-to-equity ratio of 2.50. Sherwin-Williams has a 1-year low of $325.43 and a 1-year high of $659.87. The stock has a market capitalization of $58.99 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 3.10 and a beta of 1.22.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $7.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.69 by $1.41. Sherwin-Williams had a net margin of 9.83% and a return on equity of 53.67%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.55 billion. During the same period in the previous year, the company earned $6.57 earnings per share. Sherwin-Williams’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, research analysts predict that Sherwin-Williams will post 22.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $1.34 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.36 annualized dividend and a dividend yield of 0.83%. Sherwin-Williams’s dividend payout ratio is presently 25.38%.
In related news, COO David B. Sewell sold 5,752 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $571.13, for a total transaction of $3,285,139.76. Following the transaction, the chief operating officer now owns 14,100 shares in the company, valued at approximately $8,052,933. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Aaron M. Erter sold 935 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $534.70, for a total transaction of $499,944.50. The disclosure for this sale can be found here. Insiders sold a total of 19,481 shares of company stock worth $11,529,647 in the last 90 days. 0.55% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC acquired a new position in Sherwin-Williams during the 1st quarter worth about $25,000. Key Financial Inc acquired a new position in Sherwin-Williams during the 1st quarter worth about $29,000. Center for Financial Planning Inc. lifted its position in Sherwin-Williams by 250.0% during the 1st quarter. Center for Financial Planning Inc. now owns 63 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 45 shares in the last quarter. Lindbrook Capital LLC lifted its position in Sherwin-Williams by 50.8% during the 1st quarter. Lindbrook Capital LLC now owns 92 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 31 shares in the last quarter. Finally, Front Row Advisors LLC acquired a new position in Sherwin-Williams during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 76.25% of the company’s stock.
Sherwin-Williams Company Profile
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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