Bank of America Cuts Sherwin-Williams (NYSE:SHW) Price Target to $365.00

Sherwin-Williams (NYSE:SHW) had its target price trimmed by Bank of America from $370.00 to $365.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other analysts have also weighed in on SHW. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price on the stock in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sherwin-Williams in a report on Friday, March 27th. Mizuho lowered their target price on Sherwin-Williams from $410.00 to $371.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft lowered Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 target price on the stock. in a report on Thursday, January 22nd. Finally, UBS Group lowered their target price on Sherwin-Williams from $420.00 to $380.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $379.08.

Sherwin-Williams Stock Up 0.8%

Sherwin-Williams stock opened at $337.88 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.53 and a current ratio of 0.87. The firm has a market capitalization of $83.58 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.88 and a beta of 1.27. Sherwin-Williams has a fifty-two week low of $301.58 and a fifty-two week high of $379.65. The stock’s fifty day moving average is $335.10 and its two-hundred day moving average is $338.31.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.07. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.Sherwin-Williams’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 earnings per share. Analysts predict that Sherwin-Williams will post 11.82 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, May 22nd. Sherwin-Williams’s dividend payout ratio is currently 31.16%.

Insider Buying and Selling at Sherwin-Williams

In other news, SVP Bryan J. Young sold 2,513 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the sale, the senior vice president directly owned 10,045 shares in the company, valued at $3,661,101.15. This represents a 20.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Colin M. Davie sold 2,976 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the sale, the insider owned 5,365 shares in the company, valued at $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of Sherwin-Williams

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Sherwin-Williams by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock worth $7,529,752,000 after buying an additional 600,119 shares during the last quarter. State Street Corp boosted its stake in Sherwin-Williams by 2.4% in the 4th quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock worth $5,067,497,000 after buying an additional 364,832 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sherwin-Williams by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock worth $1,687,498,000 after buying an additional 37,145 shares during the last quarter. Capital Research Global Investors boosted its stake in Sherwin-Williams by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 3,432,977 shares of the specialty chemicals company’s stock worth $1,188,698,000 after buying an additional 11,560 shares during the last quarter. Finally, Norges Bank acquired a new stake in Sherwin-Williams in the 4th quarter worth about $1,089,450,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Company Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.