Citigroup Reaffirms Buy Rating for Sherwin-Williams (NYSE:SHW)

Citigroup restated their buy rating on shares of Sherwin-Williams (NYSE:SHW) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have a $423.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $418.00.

A number of other research firms also recently issued reports on SHW. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Evercore ISI boosted their price objective on shares of Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Zelman & Associates raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Finally, Morgan Stanley cut their price objective on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $400.76.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $359.62 on Wednesday. The company has a market capitalization of $90.40 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 2.98 and a beta of 1.22. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. The company has a 50-day simple moving average of $350.65 and a 200 day simple moving average of $365.58. Sherwin-Williams has a 52 week low of $282.09 and a 52 week high of $400.42.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, topping 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 in the prior year, the business posted $1.81 earnings per share. On average, sell-side analysts predict that Sherwin-Williams will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.88%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 3rd. Sherwin-Williams’s dividend payout ratio is currently 29.95%.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors have recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC increased its position in Sherwin-Williams by 88.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 68 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 32 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Sherwin-Williams during the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. acquired a new position in Sherwin-Williams during the 4th quarter worth approximately $28,000. First Personal Financial Services acquired a new position in Sherwin-Williams during the 3rd quarter worth approximately $29,000. Finally, FSA Wealth Management LLC acquired a new position in Sherwin-Williams during the 3rd quarter worth approximately $32,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

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.