Sherwin-Williams (NYSE:SHW) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Sherwin-Williams (NYSE:SHW) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $400.00 target price on the specialty chemicals company’s stock, up from their prior target price of $386.00.

Several other equities analysts have also recently weighed in on SHW. UBS Group raised their price objective on Sherwin-Williams from $375.00 to $412.00 and gave the company a buy rating in a report on Friday, August 30th. Morgan Stanley lifted their price target on Sherwin-Williams from $338.00 to $375.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Redburn Atlantic upgraded Sherwin-Williams to a strong-buy rating in a report on Thursday, July 18th. Barclays lifted their price target on Sherwin-Williams from $315.00 to $355.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $418.00 price target on shares of Sherwin-Williams in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams presently has a consensus rating of Moderate Buy and an average target price of $362.68.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $360.83 on Wednesday. The firm has a market cap of $91.02 billion, a PE ratio of 38.47, a PEG ratio of 2.90 and a beta of 1.17. The company has a fifty day moving average price of $339.22 and a 200 day moving average price of $324.88. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $371.19.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.19. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. Sherwin-Williams’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 EPS. Research analysts predict that Sherwin-Williams will post 11.47 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.79%. Sherwin-Williams’s payout ratio is 30.49%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SHW. HHM Wealth Advisors LLC raised its position in Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. First United Bank & Trust acquired a new position in Sherwin-Williams during the fourth quarter valued at approximately $31,000. Semmax Financial Advisors Inc. raised its position in Sherwin-Williams by 136.4% during the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 60 shares in the last quarter. Tortoise Investment Management LLC raised its position in Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Finally, VitalStone Financial LLC raised its position in Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

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.