Sherwin-Williams (NYSE:SHW) Stock Rating Upgraded by KeyCorp

KeyCorp upgraded shares of Sherwin-Williams (NYSE:SHW) from a sector weight rating to an overweight rating in a research report released on Thursday morning, Marketbeat reports. KeyCorp currently has $400.00 price target on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada cut their price objective on shares of Sherwin-Williams from $346.00 to $341.00 and set an outperform rating on the stock in a research note on Friday, January 26th. Wolfe Research assumed coverage on shares of Sherwin-Williams in a research report on Friday, March 1st. They issued a peer perform rating on the stock. BMO Capital Markets reiterated an outperform rating and issued a $377.00 price target (down from $385.00) on shares of Sherwin-Williams in a research report on Wednesday. Northcoast Research upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target on the stock in a research report on Tuesday, February 27th. Finally, Citigroup boosted their price target on shares of Sherwin-Williams from $360.00 to $390.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. 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.com, the stock currently has an average rating of Moderate Buy and an average price target of $337.37.

Sherwin-Williams Stock Up 0.4 %

SHW stock opened at $304.80 on Thursday. Sherwin-Williams has a twelve month low of $221.76 and a twelve month high of $348.37. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $77.56 billion, a P/E ratio of 32.49, a PEG ratio of 2.41 and a beta of 1.15. The firm has a 50 day simple moving average of $328.10 and a 200-day simple moving average of $298.81.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the business posted $2.04 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm 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 dividend of $0.715 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.94%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value 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 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. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sherwin-Williams

Large investors have recently made changes to their positions in the company. First United Bank & Trust bought a new stake in shares of Sherwin-Williams in the 4th quarter valued at approximately $31,000. OFI Invest Asset Management bought a new stake in shares of Sherwin-Williams in the 3rd quarter valued at approximately $25,000. Tortoise Investment Management LLC grew its stake in shares of Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 65 shares in the last quarter. Union Savings Bank bought a new stake in shares of Sherwin-Williams in the 3rd quarter valued at approximately $28,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Sherwin-Williams in the 4th quarter valued at approximately $35,000. Institutional investors own 77.67% of the company’s stock.

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.