Sherwin-Williams (NYSE:SHW) PT Lowered to $370.00 at Royal Bank of Canada

Sherwin-Williams (NYSE:SHW) had its price target decreased by Royal Bank of Canada from $380.00 to $370.00 in a report released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued research reports about the company. Seaport Res Ptn downgraded Sherwin-Williams from a buy rating to a neutral rating in a report on Monday, January 8th. Mizuho reduced their price objective on Sherwin-Williams from $340.00 to $334.00 and set a buy rating for the company in a research note on Wednesday. Northcoast Research upgraded Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price objective for the company in a research note on Tuesday, February 27th. Barclays raised their price objective on Sherwin-Williams from $285.00 to $315.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Finally, Loop Capital reduced their price objective on Sherwin-Williams from $395.00 to $380.00 and set a buy rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $341.39.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $306.45 on Thursday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. The company has a market cap of $77.98 billion, a PE ratio of 32.67, a P/E/G ratio of 2.47 and a beta of 1.15. The business has a 50-day simple moving average of $328.05 and a two-hundred day simple moving average of $299.51. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. Sherwin-Williams’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.04 EPS. As a group, equities analysts expect that Sherwin-Williams will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.93%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Insider Activity

In other news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $322.66, for a total value of $7,588,317.88. Following the completion of the sale, the senior vice president now directly owns 28,475 shares in the company, valued at $9,187,743.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $322.66, for a total value of $7,588,317.88. Following the completion of the sale, the senior vice president now directly owns 28,475 shares in the company, valued at $9,187,743.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the sale, the insider now 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 sold 32,050 shares of company stock worth $10,340,237 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Sherwin-Williams

A number of institutional investors and hedge funds have recently made changes to their positions in SHW. OFI Invest Asset Management acquired a new stake in shares of Sherwin-Williams in the third quarter worth approximately $25,000. Union Savings Bank acquired a new stake in shares of Sherwin-Williams in the third quarter worth approximately $28,000. First United Bank & Trust acquired a new stake in shares of Sherwin-Williams in the fourth quarter worth approximately $31,000. Lee Financial Co acquired a new stake in shares of Sherwin-Williams in the third quarter worth approximately $32,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Sherwin-Williams in the third quarter worth approximately $33,000. 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.