StockNews.com Downgrades Sherwin-Williams (NYSE:SHW) to Hold

StockNews.com cut shares of Sherwin-Williams (NYSE:SHW) from a buy rating to a hold rating in a report issued on Wednesday.

Other research analysts also recently issued research reports about the company. Robert W. Baird lifted their price target on 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. lifted their target price on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. BMO Capital Markets increased 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. Finally, Barclays boosted their price target on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $395.29.

Sherwin-Williams Stock Up 0.1 %

Shares of Sherwin-Williams stock opened at $361.99 on Wednesday. The stock’s fifty day moving average is $372.35 and its 200-day moving average is $335.91. The firm has a market capitalization of $91.78 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.89 and a beta of 1.17. Sherwin-Williams has a 12-month low of $235.84 and a 12-month high of $392.57. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams (NYSE:SHW) last released its 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). The firm had revenue of $6.16 billion during 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 business’s revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $3.20 earnings per share. Equities analysts anticipate that Sherwin-Williams will post 11.32 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 0.79%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PineStone Asset Management Inc. raised its holdings in Sherwin-Williams by 132.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after acquiring an additional 917,979 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Sherwin-Williams by 610.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after buying an additional 898,143 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Sherwin-Williams by 40,317.4% during the 3rd quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock valued at $277,361,000 after acquiring an additional 724,907 shares in the last quarter. Jensen Investment Management Inc. bought a new stake in Sherwin-Williams in the second quarter valued at about $169,770,000. Finally, 1832 Asset Management L.P. raised its position in Sherwin-Williams by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after purchasing an additional 496,326 shares in the last quarter. 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.