Sherwin-Williams (NYSE:SHW) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Sherwin-Williams (NYSE:SHW) from a hold rating to a buy rating in a report released on Friday.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group raised their price target on Sherwin-Williams from $344.00 to $390.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on Sherwin-Williams from $320.00 to $350.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. Jefferies Financial Group raised their price target on Sherwin-Williams from $392.00 to $415.00 and gave the stock a buy rating in a report on Monday, August 26th. Robert W. Baird raised their price target on Sherwin-Williams from $310.00 to $325.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. Finally, Barclays raised their price target on Sherwin-Williams from $315.00 to $355.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of Moderate Buy and an average price target of $362.68.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $381.85 on Friday. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $382.83. The business has a 50 day moving average price of $355.09 and a two-hundred day moving average price of $328.48. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a market cap of $96.82 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $3.29 EPS. Sell-side analysts expect that Sherwin-Williams will post 11.47 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a $0.715 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Sherwin-Williams by 0.9% during the first quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after purchasing an additional 184,979 shares during the period. Capital World Investors raised its position in shares of Sherwin-Williams by 38.9% during the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after purchasing an additional 1,075,351 shares during the period. Capital Research Global Investors raised its position in shares of Sherwin-Williams by 2.3% during the fourth quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock worth $791,008,000 after purchasing an additional 56,161 shares during the period. Capital International Investors raised its position in Sherwin-Williams by 10.5% during the first quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock valued at $799,595,000 after buying an additional 219,149 shares during the period. Finally, Legal & General Group Plc raised its position in Sherwin-Williams by 2.9% during the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after buying an additional 53,487 shares during the period. 77.67% of the stock is 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.