Sherwin-Williams (NYSE:SHW) Price Target Lowered to $420.00 at Citigroup

Sherwin-Williams (NYSE:SHW) had its price objective trimmed by Citigroup from $430.00 to $420.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

Several other analysts also recently weighed in on the company. Jefferies Financial Group boosted their target price on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird increased their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $395.29.

Sherwin-Williams Stock Up 0.5 %

Shares of NYSE SHW traded up $1.87 during midday trading on Thursday, hitting $363.46. 101,117 shares of the company’s stock were exchanged, compared to its average volume of 1,537,967. The firm’s fifty day simple moving average is $371.81 and its 200-day simple moving average is $334.64. The company has a market cap of $92.15 billion, a PE ratio of 38.55, a P/E/G ratio of 2.87 and a beta of 1.17. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $392.57. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.50.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data 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 return on equity of 74.45% and a net margin of 11.09%. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the firm posted $3.20 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts predict that Sherwin-Williams will post 11.31 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid 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 at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors have recently modified their holdings of the company. PineStone Asset Management Inc. increased its stake 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 purchasing an additional 917,979 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Sherwin-Williams by 610.0% in the second 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 raised its stake 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 worth $277,361,000 after buying an additional 724,907 shares during the last quarter. Jensen Investment Management Inc. acquired a new position in shares of Sherwin-Williams during the 2nd quarter worth $169,770,000. Finally, 1832 Asset Management L.P. boosted its position in shares of Sherwin-Williams by 54.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after buying an additional 496,326 shares in the last quarter. Hedge funds and other institutional investors 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.