Sherwin-Williams (NYSE:SHW) Given New $370.00 Price Target at Citigroup

Sherwin-Williams (NYSE:SHW) had its price target lowered by Citigroup from $390.00 to $370.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

Several other research firms also recently weighed in on SHW. JPMorgan Chase & Co. reduced their target price on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a research note on Wednesday. Seaport Res Ptn downgraded shares of Sherwin-Williams from a buy rating to a neutral rating in a research note on Monday, January 8th. Barclays raised their price objective on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Robert W. Baird raised their price objective on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a neutral rating in a research report on Wednesday. Finally, Northcoast Research upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price objective for the company in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $337.37.

Sherwin-Williams Stock Performance

NYSE SHW opened at $304.81 on Thursday. Sherwin-Williams has a 52-week low of $221.76 and a 52-week high of $348.37. The company has a 50-day simple moving average of $328.10 and a 200 day simple moving average of $298.81. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. 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 (NYSE:SHW) last posted 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 company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the business posted $2.04 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts predict that Sherwin-Williams will post 11.44 EPS for the current 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 paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s payout ratio is 30.49%.

Insider Buying and Selling

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Gregory P. Sofish sold 1,830 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the sale, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, 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. Insiders have sold a total of 32,050 shares of company stock valued at $10,340,237 over the last three months. 0.60% of the stock is owned by company insiders.

Institutional Trading of Sherwin-Williams

A number of hedge funds have recently modified their holdings of SHW. Vanguard Group Inc. boosted its stake in Sherwin-Williams by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock worth $6,685,876,000 after purchasing an additional 179,274 shares in the last quarter. FMR LLC lifted its stake in Sherwin-Williams by 65.4% during the 3rd quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock valued at $1,384,160,000 after acquiring an additional 2,146,102 shares during the period. Morgan Stanley lifted its stake in Sherwin-Williams by 1.5% during the 3rd quarter. Morgan Stanley now owns 5,063,957 shares of the specialty chemicals company’s stock valued at $1,291,563,000 after acquiring an additional 75,571 shares during the period. Capital World Investors lifted its stake in Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after acquiring an additional 1,075,351 shares during the period. Finally, Norges Bank bought a new position in Sherwin-Williams during the 4th quarter valued at about $1,176,356,000. 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.