Sherwin-Williams (NYSE:SHW) Given New $400.00 Price Target at Wells Fargo & Company

by · The Markets Daily

Sherwin-Williams (NYSE:SHW – Free Report) had its price objective raised by Wells Fargo & Company from $350.00 to $400.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other brokerages also recently commented on SHW. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Robert W. Baird lifted their price objective on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays upped their target price on Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. BMO Capital Markets lifted their price target on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average price target of $383.35.

View Our Latest Stock Analysis on SHW

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $388.36 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $392.57. The stock has a market cap of $97.97 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The stock has a fifty day moving average of $370.58 and a 200-day moving average of $333.88.

Sherwin-Williams (NYSE:SHW – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the firm earned $3.29 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that Sherwin-Williams will post 11.5 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.74%. Sherwin-Williams’s payout ratio is 29.15%.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHW. PineStone Asset Management Inc. raised its holdings in Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after buying an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Sherwin-Williams by 610.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after buying an additional 898,143 shares during the last quarter. Jensen Investment Management Inc. bought a new stake in Sherwin-Williams during the 2nd quarter valued at $169,770,000. 1832 Asset Management L.P. raised its holdings in Sherwin-Williams by 54.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock valued at $422,654,000 after buying an additional 496,326 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Sherwin-Williams by 192.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 393,010 shares of the specialty chemicals company’s stock valued at $116,322,000 after purchasing an additional 258,511 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Company Profile

(Get Free Report)

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.

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