Royal Bank of Canada Trims Sherwin-Williams (NYSE:SHW) Target Price to $446.00

Sherwin-Williams (NYSE:SHW) had its target price cut by Royal Bank of Canada from $455.00 to $446.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other analysts also recently weighed in on the company. Evercore ISI cut their price objective on Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley lifted their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Barclays raised their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a report on Wednesday. Citigroup cut their price target on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group boosted their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Sherwin-Williams Stock Up 0.3 %

Shares of Sherwin-Williams stock traded up $0.98 during trading on Thursday, reaching $362.57. The company’s stock had a trading volume of 323,269 shares, compared to its average volume of 1,538,867. The company has a 50-day simple moving average of $371.81 and a two-hundred day simple moving average of $334.64. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $392.57. The company has a market cap of $91.93 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.87 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.20 EPS. As a group, equities analysts forecast that Sherwin-Williams will post 11.31 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Insiders Place Their Bets

In related news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 made changes to their positions in the stock. GHP Investment Advisors Inc. grew its holdings in 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 in the last quarter. HHM Wealth Advisors LLC increased its stake in Sherwin-Williams by 102.3% in the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. Semmax Financial Advisors Inc. grew its position in shares of Sherwin-Williams by 136.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 60 shares during the last quarter. VitalStone Financial LLC boosted its stake in Sherwin-Williams by 233.3% in the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Finally, Anfield Capital Management LLC purchased a new position in shares of Sherwin-Williams during the second quarter worth about $38,000. 77.67% of the stock is owned by institutional investors and hedge funds.

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.