Sherwin-Williams (NYSE:SHW) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sherwin-Williams (NYSE:SHW) from an equal weight rating to an overweight rating in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has $420.00 price target on the specialty chemicals company’s stock, up from their prior price target of $350.00.

Several other brokerages also recently issued reports on SHW. Jefferies Financial Group reaffirmed a “hold” rating and issued a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Citigroup dropped their price objective on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Barclays lowered their price target on Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a research report on Friday, January 31st. Finally, Royal Bank of Canada dropped their target price on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average price target of $396.67.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $353.67 on Wednesday. The firm has a market cap of $88.95 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 2.98 and a beta of 1.26. The firm’s fifty day moving average price is $341.90 and its 200 day moving average price is $356.74. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. Sherwin-Williams has a 1-year low of $282.09 and a 1-year high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.42 billion. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.17 EPS. On average, sell-side analysts expect that Sherwin-Williams will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 29.95%.

Insider Transactions at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the transaction, the insider now owns 5,365 shares in the company, valued at $1,933,009.50. The trade was a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

Several institutional investors have recently modified their holdings of the company. Legacy Capital Wealth Partners LLC raised its stake in Sherwin-Williams by 2.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 1,028 shares of the specialty chemicals company’s stock valued at $350,000 after acquiring an additional 29 shares in the last quarter. Apella Capital LLC boosted its position in shares of Sherwin-Williams by 2.1% in the 4th quarter. Apella Capital LLC now owns 1,465 shares of the specialty chemicals company’s stock valued at $498,000 after purchasing an additional 30 shares during the period. Atlantic Edge Private Wealth Management LLC increased its position in shares of Sherwin-Williams by 0.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock worth $1,272,000 after acquiring an additional 30 shares in the last quarter. IMS Capital Management raised its stake in Sherwin-Williams by 2.4% during the 4th quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company’s stock valued at $437,000 after purchasing an additional 30 shares during the period. Finally, Coppell Advisory Solutions LLC raised its position in Sherwin-Williams by 2.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company’s stock valued at $388,000 after buying an additional 30 shares during the period. Institutional investors 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.