Sherwin-Williams (NYSE:SHW) Hits New 12-Month High – What’s Next?

The Sherwin-Williams Company (NYSE:SHW) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $394.18 and last traded at $393.65, with a volume of 52938 shares trading hands. The stock had previously closed at $388.30.

Analyst Ratings Changes

Several research analysts recently commented on SHW shares. JPMorgan Chase & Co. raised their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Evercore ISI upped their target price on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada dropped their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup lowered their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Stock Up 2.2 %

The company has a market capitalization of $99.99 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 3.13 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The business’s 50 day moving average is $377.13 and its 200 day moving average is $344.54.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 EPS. Sell-side analysts anticipate that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 28.49%.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of Sherwin-Williams stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,396,349.27. This trade represents a 28.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently bought and sold shares of SHW. Griffin Asset Management Inc. grew its position in shares of Sherwin-Williams by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock valued at $3,548,000 after purchasing an additional 26 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Sherwin-Williams by 2.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after buying an additional 28 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 28 shares during the period. Allworth Financial LP boosted its position in shares of Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock valued at $595,000 after acquiring an additional 28 shares during the last quarter. Finally, First Interstate Bank grew its holdings in shares of Sherwin-Williams by 1.9% in the third quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after purchasing an additional 28 shares during the period. 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.