Sherwin-Williams (NYSE:SHW) Price Target Cut to $408.00 by Analysts at Mizuho

Sherwin-Williams (NYSE:SHW) had its price objective trimmed by Mizuho from $435.00 to $408.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

A number of other brokerages also recently issued reports on SHW. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Robert W. Baird upped their price target on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Morgan Stanley upped their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Evercore ISI upped their price objective on shares of Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $402.25.

Sherwin-Williams Stock Performance

NYSE SHW opened at $337.31 on Tuesday. 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 stock’s fifty day moving average is $367.88 and its two-hundred day moving average is $357.46. The firm has a market capitalization of $84.95 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.22. Sherwin-Williams has a fifty-two week low of $282.09 and a fifty-two week high of $400.42.

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

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, November 15th. Sherwin-Williams’s payout ratio is presently 28.49%.

Insider Buying and Selling

In other news, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. This represents a 28.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mary L. Garceau sold 15,770 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the transaction, the senior vice president now owns 29,205 shares in the company, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The disclosure for this sale can be found here. 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 added to or reduced their stakes in SHW. FMR LLC raised its holdings in Sherwin-Williams by 18.2% during the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock worth $2,474,238,000 after purchasing an additional 999,164 shares in the last quarter. Geode Capital Management LLC raised its stake in Sherwin-Williams by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,733,131 shares of the specialty chemicals company’s stock worth $1,799,196,000 after acquiring an additional 58,463 shares in the last quarter. Legal & General Group Plc raised its stake in Sherwin-Williams by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock worth $573,538,000 after acquiring an additional 53,487 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in Sherwin-Williams by 18.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after acquiring an additional 238,031 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Sherwin-Williams by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company’s stock valued at $542,387,000 after acquiring an additional 15,843 shares in the last quarter. 77.67% of the stock is 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.