Sherwin-Williams (NYSE:SHW) Price Target Raised to $365.00 at Evercore ISI

Sherwin-Williams (NYSE:SHW) had its target price raised by Evercore ISI from $360.00 to $365.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Evercore ISI currently has an outperform rating on the specialty chemicals company’s stock.

Several other research firms also recently issued reports on SHW. The Goldman Sachs Group boosted their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a buy rating in a report on Wednesday. Loop Capital dropped their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Citigroup decreased their target price on shares of Sherwin-Williams from $390.00 to $370.00 and set a buy rating on the stock in a research report on Thursday, April 25th. UBS Group decreased their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Finally, Robert W. Baird lifted their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $355.00.

Sherwin-Williams Stock Performance

Shares of SHW opened at $349.22 on Wednesday. The company’s fifty day moving average price is $307.26 and its 200 day moving average price is $314.74. Sherwin-Williams has a one year low of $232.06 and a one year high of $351.99. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.46. The company has a market capitalization of $88.09 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The business’s revenue was up .5% compared to the same quarter last year. As a group, analysts expect that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a dividend of $0.715 per share. The ex-dividend date is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.82%. Sherwin-Williams’s payout ratio is 30.49%.

Hedge Funds Weigh In On Sherwin-Williams

Large investors have recently modified their holdings of the stock. First United Bank & Trust acquired a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $31,000. Tortoise Investment Management LLC lifted its position in shares of Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $35,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $36,000. Finally, Friedenthal Financial bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $46,000. 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.