Sherwin-Williams (NYSE:SHW) Price Target Lowered to $385.00 at Citigroup

Sherwin-Williams (NYSE:SHW) had its target price reduced by Citigroup from $410.00 to $385.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Sherwin-Williams in a report on Friday, March 27th. Royal Bank Of Canada dropped their target price on shares of Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 target price on the stock. in a research report on Thursday, January 22nd. Vertical Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target for the company in a report on Wednesday, January 7th. Finally, UBS Group set a $420.00 price objective on shares of Sherwin-Williams in a research note on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $386.31.

Sherwin-Williams Stock Up 1.7%

Shares of NYSE:SHW opened at $326.03 on Wednesday. The business’s 50 day moving average is $343.60 and its 200 day moving average is $339.94. The stock has a market cap of $80.65 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 2.78 and a beta of 1.27. Sherwin-Williams has a 52-week low of $301.58 and a 52-week high of $379.65. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.07. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $2.09 EPS. Sherwin-Williams’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Sherwin-Williams will post 12 EPS for the current year.

Sherwin-Williams Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.79. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. Sherwin-Williams’s dividend payout ratio is 31.16%.

Insider Activity

In other Sherwin-Williams news, insider Colin M. Davie sold 2,976 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 5,365 shares in the company, valued at approximately $1,928,717.50. The trade was a 35.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bryan J. Young sold 2,513 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. The trade was a 20.01% 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 insiders.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently bought and sold shares of SHW. Modera Wealth Management LLC boosted its stake in Sherwin-Williams by 2.4% in the third quarter. Modera Wealth Management LLC now owns 1,257 shares of the specialty chemicals company’s stock valued at $435,000 after acquiring an additional 29 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Sherwin-Williams by 0.6% during the fourth quarter. CoreCap Advisors LLC now owns 5,102 shares of the specialty chemicals company’s stock worth $1,653,000 after purchasing an additional 29 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Sherwin-Williams by 2.8% during the 4th quarter. Sowell Financial Services LLC now owns 1,057 shares of the specialty chemicals company’s stock valued at $343,000 after purchasing an additional 29 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Sherwin-Williams by 1.4% during the 4th quarter. Mather Group LLC. now owns 2,118 shares of the specialty chemicals company’s stock valued at $686,000 after purchasing an additional 30 shares during the last quarter. Finally, Sapient Capital LLC boosted its position in shares of Sherwin-Williams by 0.3% in the 4th quarter. Sapient Capital LLC now owns 9,176 shares of the specialty chemicals company’s stock worth $2,993,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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.