Sherwin-Williams (NYSE:SHW) PT Lowered to $420.00 at Citigroup

Sherwin-Williams (NYSE:SHW) had its price target trimmed by Citigroup from $430.00 to $420.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

SHW has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird lifted their price target on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Evercore ISI decreased their price objective on Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. One equities 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. Based on data from MarketBeat.com, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Sherwin-Williams Stock Down 0.7 %

Shares of NYSE:SHW opened at $359.04 on Thursday. The business’s 50 day simple moving average is $372.00 and its two-hundred day simple moving average is $335.02. The firm has a market cap of $91.03 billion, a P/E ratio of 38.28, a PEG ratio of 2.87 and a beta of 1.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.50 and a current ratio of 0.83. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $392.57.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 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 business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the business posted $3.20 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that Sherwin-Williams will post 11.31 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

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

Insider Activity

In other Sherwin-Williams 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 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several hedge funds have recently modified their holdings of the company. Griffin Asset Management Inc. raised its position in shares of Sherwin-Williams by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after purchasing an additional 26 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Sherwin-Williams by 2.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after purchasing an additional 28 shares during the period. GHP Investment Advisors Inc. boosted its position in shares of Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 28 shares during the period. Allworth Financial LP boosted its position in shares of Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the period. Finally, Conning Inc. boosted its position in shares of Sherwin-Williams by 1.9% during the 2nd quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock worth $479,000 after purchasing an additional 30 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.