Evercore ISI Lowers Sherwin-Williams (NYSE:SHW) Price Target to $380.00

Sherwin-Williams (NYSE:SHW) had its target price trimmed by Evercore ISI from $385.00 to $380.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

A number of other analysts have also weighed in on SHW. Northcoast Research upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 target price on the stock in a research note on Tuesday, February 27th. Citigroup increased their price objective on shares of Sherwin-Williams from $360.00 to $390.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Mizuho decreased their price objective on shares of Sherwin-Williams from $352.00 to $340.00 and set a buy rating for the company in a research report on Friday, January 26th. JPMorgan Chase & Co. increased their target price on Sherwin-Williams from $285.00 to $317.00 and gave the company an overweight rating in a report on Friday, January 26th. Finally, UBS Group upgraded Sherwin-Williams from a neutral rating to a buy rating and raised their price target for the company from $312.00 to $402.00 in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $325.94.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $305.96 on Tuesday. The firm has a 50 day moving average of $328.52 and a two-hundred day moving average of $297.37. The stock has a market capitalization of $77.86 billion, a PE ratio of 33.08, a P/E/G ratio of 2.46 and a beta of 1.15. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period last year, the business posted $1.89 earnings per share. Sherwin-Williams’s revenue was up .4% compared to the same quarter last year. On average, research analysts predict that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.715 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity

In related news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock valued at $10,340,237 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Aspect Partners LLC acquired a new stake in shares of Sherwin-Williams in the 4th quarter worth $25,000. First United Bank & Trust acquired a new stake in Sherwin-Williams in the fourth quarter valued at about $31,000. OFI Invest Asset Management purchased a new stake in Sherwin-Williams in the 3rd quarter valued at approximately $25,000. Tortoise Investment Management LLC boosted its holdings in Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Finally, Union Savings Bank acquired a new position in Sherwin-Williams during the 3rd quarter worth approximately $28,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

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.