The Goldman Sachs Group Increases Sherwin-Williams (NYSE:SHW) Price Target to $390.00

Sherwin-Williams (NYSE:SHW) had its price objective raised by The Goldman Sachs Group from $344.00 to $390.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other research firms have also weighed in on SHW. Royal Bank of Canada dropped their target price on Sherwin-Williams from $380.00 to $370.00 and set an outperform rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on Sherwin-Williams from $317.00 to $315.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Loop Capital dropped their price target on Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Evercore ISI lifted their price target on Sherwin-Williams from $360.00 to $365.00 and gave the stock an outperform rating in a report on Tuesday, May 14th. Finally, BMO Capital Markets lifted their price target on Sherwin-Williams from $360.00 to $386.00 and gave the stock an outperform rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $355.00.

Sherwin-Williams Stock Up 1.9 %

SHW stock opened at $349.22 on Wednesday. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $351.99. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The stock’s 50 day moving average is $307.26 and its 200-day moving average is $314.86. The firm has a market capitalization of $88.09 billion, a PE ratio of 37.23, a P/E/G ratio of 2.75 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the company earned $3.29 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts expect that Sherwin-Williams will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Hedge Funds Weigh In On Sherwin-Williams

Several hedge funds have recently made changes to their positions in SHW. Mutual Advisors LLC grew its position in shares of Sherwin-Williams by 2.9% in the fourth quarter. Mutual Advisors LLC now owns 1,716 shares of the specialty chemicals company’s stock valued at $535,000 after purchasing an additional 49 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Sherwin-Williams by 9.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 134,387 shares of the specialty chemicals company’s stock valued at $41,915,000 after purchasing an additional 11,514 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Sherwin-Williams by 10.4% in the fourth quarter. Pacer Advisors Inc. now owns 16,448 shares of the specialty chemicals company’s stock valued at $5,130,000 after purchasing an additional 1,551 shares in the last quarter. Douglas Lane & Associates LLC purchased a new position in shares of Sherwin-Williams in the fourth quarter valued at $242,000. Finally, Blackston Financial Advisory Group LLC purchased a new position in Sherwin-Williams during the fourth quarter worth about $315,000. 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.