Sherwin-Williams (NYSE:SHW) Hits New 52-Week High at $350.69

The Sherwin-Williams Company (NYSE:SHW)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $350.69 and last traded at $347.47, with a volume of 344345 shares traded. The stock had previously closed at $342.74.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. BMO Capital Markets raised their price objective on Sherwin-Williams from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $355.00.

Sherwin-Williams Trading Up 2.0 %

The firm has a 50 day simple moving average of $306.52 and a 200 day simple moving average of $314.39. The company has a current ratio of 0.81, a quick ratio of 0.46 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $88.21 billion, a PE ratio of 36.56, a P/E/G ratio of 2.79 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business posted $3.29 EPS. Equities analysts expect that The Sherwin-Williams Company will post 11.38 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a $0.715 dividend. 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 dividend payout ratio (DPR) is currently 30.49%.

Hedge Funds Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of the company. Optas LLC boosted its stake in shares of Sherwin-Williams by 1.3% in the 2nd quarter. Optas LLC now owns 2,424 shares of the specialty chemicals company’s stock worth $723,000 after buying an additional 32 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Sherwin-Williams by 2.9% during the second quarter. Capital Advisors Ltd. LLC now owns 1,173 shares of the specialty chemicals company’s stock valued at $350,000 after purchasing an additional 33 shares in the last quarter. Tsfg LLC lifted its position in Sherwin-Williams by 4.7% during the fourth quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock valued at $235,000 after purchasing an additional 34 shares in the last quarter. Manchester Capital Management LLC lifted its position in Sherwin-Williams by 5.5% during the fourth quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock valued at $208,000 after purchasing an additional 35 shares in the last quarter. Finally, Tealwood Asset Management Inc. lifted its position in Sherwin-Williams by 0.7% during the first quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock valued at $1,706,000 after purchasing an additional 35 shares in the last quarter. 77.67% of the stock is currently 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.