Evercore ISI Boosts Sherwin-Williams (NYSE:SHW) Price Target to $390.00

Sherwin-Williams (NYSE:SHW) had its price target boosted by Evercore ISI from $370.00 to $390.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird reiterated a neutral rating and issued a $300.00 target price (up previously from $270.00) on shares of Sherwin-Williams in a research report on Wednesday, January 3rd. UBS Group raised shares of Sherwin-Williams from a neutral rating to a buy rating and lifted their price objective for the company from $312.00 to $402.00 in a research note on Thursday, March 7th. Royal Bank of Canada reduced their price objective on shares of Sherwin-Williams from $346.00 to $341.00 and set an outperform rating for the company in a research note on Friday, January 26th. Argus lifted their price objective on shares of Sherwin-Williams from $330.00 to $378.00 and gave the company a buy rating in a research note on Thursday, December 21st. Finally, StockNews.com raised shares of Sherwin-Williams from a hold rating to a buy rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of Moderate Buy and a consensus target price of $320.39.

Sherwin-Williams Stock Up 0.1 %

SHW stock opened at $347.33 on Tuesday. Sherwin-Williams has a 12-month low of $211.91 and a 12-month high of $348.37. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. The company has a market cap of $88.38 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.57 and a beta of 1.15. The company has a 50 day moving average of $322.93 and a two-hundred day moving average of $290.19.

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, topping analysts’ consensus estimates of $1.80 by $0.01. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 26th were given a $0.715 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.61. This represents a $2.86 dividend on an annualized basis and a yield of 0.82%. Sherwin-Williams’s payout ratio is 30.92%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Mary L. Garceau sold 23,518 shares of the company’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 transaction of $7,588,317.88. Following the transaction, the senior vice president now owns 28,475 shares in the company, valued at $9,187,743.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock worth $10,340,237 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of the business. HighPoint Advisor Group LLC bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $3,043,000. PNC Financial Services Group Inc. raised its stake in shares of Sherwin-Williams by 2.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 132,841 shares of the specialty chemicals company’s stock worth $41,433,000 after buying an additional 3,546 shares during the last quarter. Ariston Services Group bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $230,000. Accent Capital Management LLC bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $331,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Sherwin-Williams by 3.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 12,366 shares of the specialty chemicals company’s stock worth $3,857,000 after buying an additional 405 shares during the last quarter. 77.67% of the stock is owned by 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.