JPMorgan Chase & Co. Cuts Sherwin-Williams (NYSE:SHW) Price Target to $378.00

Sherwin-Williams (NYSE:SHW) had its price objective lowered by JPMorgan Chase & Co. from $390.00 to $378.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently commented on the company. Royal Bank Of Canada lifted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Barclays decreased their target price 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. UBS Group increased their price target on Sherwin-Williams from $398.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Mizuho set a $395.00 price objective on Sherwin-Williams in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on Sherwin-Williams from $420.00 to $400.00 and set an “overweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average price target of $383.33.

Sherwin-Williams Trading Down 0.1%

SHW opened at $339.87 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The firm has a market cap of $85.17 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 3.21 and a beta of 1.18. The business’s 50 day moving average is $348.16 and its two-hundred day moving average is $348.10. Sherwin-Williams has a 52 week low of $308.84 and a 52 week high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.76 by ($0.38). The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 earnings per share. On average, research analysts predict that Sherwin-Williams will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams’s dividend payout ratio is presently 31.35%.

Institutional Trading of Sherwin-Williams

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Sherwin-Williams by 73.6% in the 4th quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock valued at $525,000 after purchasing an additional 655 shares during the period. Quantbot Technologies LP grew its stake in shares of Sherwin-Williams by 53.4% in the 4th quarter. Quantbot Technologies LP now owns 3,449 shares of the specialty chemicals company’s stock valued at $1,172,000 after buying an additional 1,201 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Sherwin-Williams by 70.5% in the 4th quarter. Modern Wealth Management LLC now owns 895 shares of the specialty chemicals company’s stock valued at $322,000 after buying an additional 370 shares in the last quarter. TIAA Trust National Association grew its stake in shares of Sherwin-Williams by 6.1% in the 4th quarter. TIAA Trust National Association now owns 44,529 shares of the specialty chemicals company’s stock valued at $15,137,000 after buying an additional 2,546 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Sherwin-Williams by 5.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 17,891 shares of the specialty chemicals company’s stock valued at $6,082,000 after buying an additional 963 shares in the last quarter. Institutional investors and hedge funds 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.