Sherwin-Williams (NYSE:SHW) Price Target Raised to $370.00

Sherwin-Williams (NYSE:SHW) had its price objective hoisted by JPMorgan Chase & Co. from $360.00 to $370.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company’s stock.

SHW has been the topic of a number of other reports. Morgan Stanley increased their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Robert W. Baird upped their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. BMO Capital Markets upped their price objective 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. Finally, Barclays upped their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $395.29.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $359.04 on Wednesday. The company’s fifty day moving average price is $372.00 and its 200 day moving average price is $335.02. Sherwin-Williams has a 1 year low of $232.06 and a 1 year high of $392.57. The company has a market capitalization of $91.03 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.50 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the company posted $3.20 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts predict that Sherwin-Williams will post 11.31 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 0.80%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s payout ratio is currently 30.49%.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SHW. Brookstone Capital Management boosted its stake in Sherwin-Williams by 20.6% during the first quarter. Brookstone Capital Management now owns 4,732 shares of the specialty chemicals company’s stock worth $1,644,000 after buying an additional 808 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in Sherwin-Williams during the first quarter worth about $231,000. Procyon Advisors LLC boosted its stake in Sherwin-Williams by 4.4% during the first quarter. Procyon Advisors LLC now owns 3,007 shares of the specialty chemicals company’s stock worth $1,044,000 after buying an additional 128 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Sherwin-Williams by 6.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,210 shares of the specialty chemicals company’s stock worth $420,000 after buying an additional 72 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in Sherwin-Williams during the first quarter worth about $120,000. Hedge funds and other 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.