Sherwin-Williams (NYSE:SHW) Hits New 52-Week High at $358.88

Shares of The Sherwin-Williams Company (NYSE:SHW) hit a new 52-week high during trading on Wednesday . The company traded as high as $358.88 and last traded at $358.01, with a volume of 253118 shares trading hands. The stock had previously closed at $355.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHW. Morgan Stanley lifted their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Robert W. Baird raised their target price on shares of Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. KeyCorp lifted their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group dropped their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $355.00.

Sherwin-Williams Stock Down 0.0 %

The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The company has a market cap of $90.29 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16. The firm’s 50 day moving average price is $325.28 and its 200-day moving average price is $320.84.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.19. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The firm’s revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $3.29 EPS. As a group, equities research analysts expect that The Sherwin-Williams Company will post 11.44 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, August 16th. Sherwin-Williams’s payout ratio is presently 30.49%.

Hedge Funds Weigh In On Sherwin-Williams

Large investors have recently bought and sold shares of 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 acquiring an additional 45 shares in the last quarter. First United Bank & Trust bought a new position in Sherwin-Williams during the fourth quarter worth about $31,000. Semmax Financial Advisors Inc. lifted its position in shares of Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 60 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Sherwin-Williams by 158.5% during the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 65 shares during the period. Finally, VitalStone Financial LLC increased its holdings 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 acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Company Profile

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.