Sherwin-Williams (NYSE:SHW) Given New $370.00 Price Target at Royal Bank of Canada

Sherwin-Williams (NYSE:SHW) had its price target cut by Royal Bank of Canada from $380.00 to $370.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other brokerages have also issued reports on SHW. Wolfe Research assumed coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Evercore ISI dropped their price target on Sherwin-Williams from $385.00 to $380.00 and set an outperform rating on the stock in a research note on Tuesday, April 16th. Mizuho dropped their price target on Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a research note on Wednesday. Wells Fargo & Company boosted their price target on Sherwin-Williams from $310.00 to $320.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Finally, Barclays boosted their price target on Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $337.37.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $304.81 on Thursday. The stock’s 50-day moving average is $328.10 and its 200-day moving average is $298.81. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The stock has a market cap of $77.56 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the previous year, the company earned $2.04 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. Equities research analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $0.715 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.94%. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, the insider now owns 14,564 shares in the company, valued at $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock valued at $10,340,237 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new position in Sherwin-Williams during the third quarter valued at $25,000. Union Savings Bank purchased a new position in shares of Sherwin-Williams in the third quarter worth $28,000. First United Bank & Trust purchased a new position in shares of Sherwin-Williams in the fourth quarter worth $31,000. Lee Financial Co purchased a new position in shares of Sherwin-Williams in the third quarter worth $32,000. Finally, BluePath Capital Management LLC bought a new stake in shares of Sherwin-Williams in the third quarter worth $33,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Company Profile

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.