BMO Capital Markets Boosts Sherwin-Williams (NYSE:SHW) Price Target to $425.00

Sherwin-Williams (NYSE:SHW) had its target price hoisted by BMO Capital Markets from $400.00 to $425.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

A number of other brokerages have also issued reports on SHW. Morgan Stanley raised their price objective on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an overweight rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Sherwin-Williams from a buy rating to a hold rating in a research note on Saturday, September 28th. Evercore ISI boosted their price objective on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an outperform rating in a research note on Friday, August 30th. Wells Fargo & Company increased their price objective on Sherwin-Williams from $320.00 to $350.00 and gave the company an equal weight rating in a report on Wednesday, July 24th. Finally, Barclays lifted their target price 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $370.39.

Sherwin-Williams Stock Down 1.3 %

SHW stock opened at $373.10 on Monday. The stock has a market capitalization of $94.12 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 3.01 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. Sherwin-Williams has a 12 month low of $232.06 and a 12 month high of $385.25. The firm has a 50-day moving average price of $363.12 and a 200-day moving average price of $330.96.

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

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction dated 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 directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Sherwin-Williams by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after purchasing an additional 184,979 shares during the period. Capital World Investors grew its holdings 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 valued at $1,197,952,000 after buying an additional 1,075,351 shares during the last quarter. Capital Research Global Investors increased 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 acquiring an additional 56,161 shares in the last quarter. Capital International Investors raised its holdings in shares of Sherwin-Williams by 10.5% in the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock worth $799,595,000 after acquiring an additional 219,149 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Sherwin-Williams by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after acquiring an additional 53,487 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

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.