Barclays Increases Sherwin-Williams (NYSE:SHW) Price Target to $370.00

Sherwin-Williams (NYSE:SHW) had its price objective raised by Barclays from $355.00 to $370.00 in a report issued on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

SHW has been the subject of several other reports. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. BMO Capital Markets raised their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Robert W. Baird raised their target price on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley raised their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group raised their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average price target of $395.29.

Sherwin-Williams Stock Performance

Shares of SHW opened at $359.04 on Wednesday. The company has a 50-day simple moving average of $371.91 and a 200-day simple moving average of $334.83. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $91.03 billion, a PE ratio of 38.28, a P/E/G ratio of 2.87 and a beta of 1.17. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $392.57.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the business earned $3.20 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts predict that Sherwin-Williams will post 11.31 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.80%. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHW. HHM Wealth Advisors LLC lifted its position in Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 45 shares in the last quarter. Semmax Financial Advisors Inc. raised its stake in shares of Sherwin-Williams by 136.4% during the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 60 shares during the period. VitalStone Financial LLC raised its stake in shares of Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 77 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Sherwin-Williams by 47.5% during the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, Anfield Capital Management LLC purchased a new stake in shares of Sherwin-Williams during the second quarter valued at approximately $38,000. 77.67% of the stock is owned by institutional investors and hedge funds.

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.