Sherwin-Williams (NYSE:SHW) Price Target Cut to $420.00

Sherwin-Williams (NYSE:SHW) had its price objective lowered by Citigroup from $430.00 to $420.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

A number of other brokerages also recently commented on SHW. Jefferies Financial Group boosted their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Robert W. Baird raised their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $418.00 price target on shares of Sherwin-Williams in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Sherwin-Williams Price Performance

Shares of SHW opened at $359.04 on Thursday. The company has a market cap of $91.03 billion, a P/E ratio of 38.28, a PEG ratio of 2.87 and a beta of 1.17. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $392.57. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average price is $372.00 and its 200 day moving average price is $335.12.

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

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.80%. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Insider Activity at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction on Friday, August 30th. The stock was 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 of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Sherwin-Williams

Several hedge funds have recently made changes to their positions in the company. HHM Wealth Advisors LLC raised its holdings in Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Semmax Financial Advisors Inc. increased its position in Sherwin-Williams by 136.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 60 shares during the period. VitalStone Financial LLC raised its stake in shares of Sherwin-Williams by 233.3% during the 2nd quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 77 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 28 shares during the period. Finally, Anfield Capital Management LLC purchased a new stake in shares of Sherwin-Williams in the second quarter valued at approximately $38,000. Institutional investors and hedge funds 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.