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

Sherwin-Williams (NYSE:SHW) had its target price raised by Evercore ISI from $370.00 to $390.00 in a research report released on Tuesday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Sherwin-Williams from $295.00 to $335.00 and gave the company a buy rating in a research note on Thursday, December 14th. Wells Fargo & Company increased their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. StockNews.com upgraded shares of Sherwin-Williams from a hold rating to a buy rating in a research report on Friday, March 8th. Mizuho decreased their target price 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. Finally, Argus upped their target price on shares of Sherwin-Williams from $330.00 to $378.00 and gave the stock a buy rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $320.39.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $347.33 on Tuesday. The firm has a market capitalization of $88.38 billion, a P/E ratio of 37.55, a P/E/G ratio of 2.57 and a beta of 1.15. The company’s fifty day moving average price is $322.93 and its two-hundred day moving average price is $290.19. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48. Sherwin-Williams has a 12 month low of $211.91 and a 12 month high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued 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. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. On average, research analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

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

Insiders Place Their Bets

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the 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 in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction 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 approximately $4,935,302.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mary L. Garceau sold 23,518 shares of Sherwin-Williams stock in a transaction on Monday, February 26th. The shares were sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the sale, the senior vice president now directly owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock worth $10,340,237 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sherwin-Williams

Institutional investors and hedge funds have recently modified their holdings of the business. Roundview Capital LLC raised its holdings in Sherwin-Williams by 8.1% in the 1st quarter. Roundview Capital LLC now owns 8,065 shares of the specialty chemicals company’s stock worth $2,013,000 after acquiring an additional 607 shares during the period. Cibc World Market Inc. raised its holdings in Sherwin-Williams by 189.1% in the 1st quarter. Cibc World Market Inc. now owns 10,409 shares of the specialty chemicals company’s stock worth $2,598,000 after acquiring an additional 6,808 shares during the period. Sei Investments Co. raised its holdings in Sherwin-Williams by 26.5% in the 1st quarter. Sei Investments Co. now owns 118,763 shares of the specialty chemicals company’s stock worth $29,956,000 after acquiring an additional 24,884 shares during the period. Prudential PLC bought a new position in Sherwin-Williams in the 1st quarter worth $1,231,000. Finally, Cetera Investment Advisers raised its holdings in Sherwin-Williams by 2.6% in the 1st quarter. Cetera Investment Advisers now owns 11,387 shares of the specialty chemicals company’s stock worth $2,842,000 after acquiring an additional 287 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

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.