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

Sherwin-Williams (NYSE:SHW) had its price objective raised by Evercore ISI from $365.00 to $380.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently weighed in on SHW. The Goldman Sachs Group lifted their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a buy rating in a research note on Wednesday, July 24th. BMO Capital Markets increased their target price on Sherwin-Williams from $360.00 to $386.00 and gave the stock an outperform rating in a report on Wednesday, July 24th. UBS Group decreased their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their target price on shares of Sherwin-Williams from $320.00 to $350.00 and gave the stock an equal weight rating in a research report on Wednesday, July 24th. Finally, Redburn Atlantic raised shares of Sherwin-Williams to a strong-buy rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $361.95.

Sherwin-Williams Trading Up 2.4 %

SHW opened at $369.37 on Friday. The stock has a market cap of $93.65 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 2.90 and a beta of 1.16. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $370.27. The company has a fifty day moving average of $334.01 and a 200-day moving average of $323.61.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period last year, the company posted $3.29 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that Sherwin-Williams will post 11.47 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Conning Inc. lifted its holdings in shares of Sherwin-Williams by 1.9% in the second quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock worth $479,000 after buying an additional 30 shares in the last quarter. Oxbow Advisors LLC boosted its stake in Sherwin-Williams by 4.5% during the second quarter. Oxbow Advisors LLC now owns 690 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 30 shares during the period. Global X Japan Co. Ltd. grew its position in Sherwin-Williams by 2.2% during the second quarter. Global X Japan Co. Ltd. now owns 1,403 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 30 shares in the last quarter. Optas LLC increased its stake in Sherwin-Williams by 1.3% in the 2nd quarter. Optas LLC now owns 2,424 shares of the specialty chemicals company’s stock worth $723,000 after acquiring an additional 32 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Sherwin-Williams by 2.9% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,173 shares of the specialty chemicals company’s stock valued at $350,000 after acquiring an additional 33 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

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.