Sherwin-Williams (NYSE:SHW) Downgraded by StockNews.com

StockNews.com cut shares of Sherwin-Williams (NYSE:SHW) from a buy rating to a hold rating in a research report sent to investors on Thursday.

A number of other analysts also recently issued reports on SHW. Wolfe Research began coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a peer perform rating on the stock. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $317.00 to $315.00 and set an overweight rating on the stock in a research note on Wednesday. Seaport Res Ptn downgraded Sherwin-Williams from a buy rating to a neutral rating in a research report on Monday, January 8th. Northcoast Research raised Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 target price on the stock in a research report on Tuesday, February 27th. Finally, KeyCorp raised Sherwin-Williams from a sector weight rating to an overweight rating and set a $400.00 target price on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has a consensus rating of Moderate Buy and a consensus target price of $337.37.

Sherwin-Williams Stock Up 0.4 %

Shares of SHW opened at $304.80 on Thursday. The business’s 50 day moving average is $328.10 and its 200 day moving average is $298.81. The company has a market capitalization of $77.56 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.41 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 current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the firm earned $2.04 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. Research analysts expect that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is 30.49%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Justin T. Binns sold 1,563 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the sale, the insider now directly owns 14,564 shares in the company, valued at approximately $4,935,302.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds have recently made changes to their positions in the stock. First United Bank & Trust acquired a new position in Sherwin-Williams during the 4th quarter valued at about $31,000. OFI Invest Asset Management acquired a new position in Sherwin-Williams during the 3rd quarter valued at about $25,000. Tortoise Investment Management LLC increased its position in Sherwin-Williams by 158.5% during the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 65 shares in the last quarter. Union Savings Bank acquired a new position in Sherwin-Williams during the 3rd quarter valued at about $28,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Sherwin-Williams during the 4th quarter valued at about $35,000. 77.67% of the stock is currently owned by hedge funds and other 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.