Morgan Stanley Boosts Sherwin-Williams (NYSE:SHW) Price Target to $375.00

Sherwin-Williams (NYSE:SHW) had its price objective increased by Morgan Stanley from $338.00 to $375.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the specialty chemicals company’s stock.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of Sherwin-Williams from a buy rating to a hold rating in a report on Thursday, April 25th. Barclays increased their price target on shares of Sherwin-Williams from $315.00 to $355.00 and gave the company an equal weight rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of Sherwin-Williams from $360.00 to $386.00 and gave the company an outperform rating in a report on Wednesday. Loop Capital lowered their target price 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. Finally, Mizuho lowered their target price on shares of Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has a consensus rating of Moderate Buy and an average price target of $355.00.

Sherwin-Williams Trading Up 1.9 %

Shares of NYSE:SHW opened at $349.22 on Wednesday. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $351.99. The company has a market capitalization of $88.09 billion, a P/E ratio of 37.23, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16. The company has a 50-day simple moving average of $307.26 and a 200 day simple moving average of $314.86. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.46 and a current ratio of 0.81.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results 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 firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. Sell-side analysts forecast that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

Institutional Trading of Sherwin-Williams

A number of hedge funds have recently added to or reduced their stakes in SHW. First United Bank & Trust acquired a new stake in Sherwin-Williams in the fourth quarter valued at approximately $31,000. Tortoise Investment Management LLC lifted its holdings in Sherwin-Williams by 158.5% in the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 65 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in Sherwin-Williams in the fourth quarter valued at $35,000. Wetzel Investment Advisors Inc. acquired a new position in Sherwin-Williams in the fourth quarter valued at $36,000. Finally, Friedenthal Financial acquired a new position in Sherwin-Williams in the fourth quarter valued at $46,000. Institutional investors and hedge funds 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.