Evercore ISI Trims Sherwin-Williams (NYSE:SHW) Target Price to $380.00

Sherwin-Williams (NYSE:SHW) had its price objective decreased by Evercore ISI from $385.00 to $380.00 in a research note released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities analysts have also recently issued reports on the company. StockNews.com raised Sherwin-Williams from a hold rating to a buy rating in a report on Friday, March 8th. Argus raised their price target on Sherwin-Williams from $330.00 to $378.00 and gave the stock a buy rating in a research report on Thursday, December 21st. Northcoast Research raised Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target for the company in a research report on Tuesday, February 27th. Royal Bank of Canada dropped their price target on Sherwin-Williams from $346.00 to $341.00 and set an outperform rating for the company in a research report on Friday, January 26th. Finally, Citigroup raised their price target on Sherwin-Williams from $360.00 to $390.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $325.94.

Sherwin-Williams Stock Down 0.3 %

SHW opened at $309.38 on Tuesday. The business has a 50 day simple moving average of $328.64 and a 200-day simple moving average of $297.00. The stock has a market capitalization of $78.72 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.45 and a beta of 1.15. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37. 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 (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.01. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. Sherwin-Williams’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s payout ratio is currently 30.92%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Sherwin-Williams by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock worth $6,685,876,000 after acquiring an additional 179,274 shares in the last quarter. FMR LLC increased its holdings in Sherwin-Williams by 65.4% in the third quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock valued at $1,384,160,000 after buying an additional 2,146,102 shares during the last quarter. Morgan Stanley increased its holdings in Sherwin-Williams by 50.9% in the fourth quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after buying an additional 1,747,586 shares during the last quarter. Geode Capital Management LLC increased its holdings in Sherwin-Williams by 1.8% in the first quarter. Geode Capital Management LLC now owns 4,179,547 shares of the specialty chemicals company’s stock valued at $936,902,000 after buying an additional 73,605 shares during the last quarter. Finally, Capital World Investors increased its holdings in Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after buying an additional 1,075,351 shares during the last quarter. 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.