Sherwin-Williams (NYSE:SHW) Price Target Lowered to $355.00 at Barclays

Sherwin-Williams (NYSE:SHW) had its price target reduced by Barclays from $385.00 to $355.00 in a research note published on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Other equities analysts have also issued reports about the stock. Berenberg Bank raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and lifted their price target for the stock from $321.00 to $420.00 in a report on Friday, January 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Morgan Stanley lowered their price target on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada cut their price objective on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Mizuho dropped their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $398.94.

Sherwin-Williams Trading Down 3.7 %

Shares of NYSE:SHW opened at $340.71 on Tuesday. The company has a market capitalization of $85.69 billion, a PE ratio of 32.29, a P/E/G ratio of 2.98 and a beta of 1.23. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. Sherwin-Williams has a 12-month low of $282.09 and a 12-month high of $400.42. The business’s fifty day simple moving average is $352.80 and its 200-day simple moving average is $363.23.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same quarter last year, the business earned $1.81 earnings per share. As a group, equities research analysts predict that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Monday, March 3rd. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s payout ratio is 29.95%.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the transaction, the insider now directly owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. The trade was a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors have recently made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in Sherwin-Williams during the fourth quarter valued at $26,000. Park Square Financial Group LLC purchased a new stake in shares of Sherwin-Williams during the 4th quarter worth about $27,000. Lee Danner & Bass Inc. acquired a new stake in shares of Sherwin-Williams during the 4th quarter valued at about $28,000. Sierra Ocean LLC purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $36,000. Finally, WR Wealth Planners LLC grew its holdings in Sherwin-Williams by 41.7% in the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 35 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.