Sherwin-Williams’ (SHW) Outperform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Sherwin-Williams (NYSE:SHW) in a research note issued to investors on Wednesday, Benzinga reports. BMO Capital Markets currently has a $377.00 target price on the specialty chemicals company’s stock, down from their previous target price of $385.00.

Other research analysts have also recently issued research reports about the company. Loop Capital reduced their price objective on Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research note on Wednesday. Mizuho reduced their price objective on Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $317.00 to $315.00 and set an overweight rating on the stock in a research note on Wednesday. Evercore ISI reduced their price objective on Sherwin-Williams from $385.00 to $380.00 and set an outperform rating on the stock in a research note on Tuesday, April 16th. Finally, Northcoast Research upgraded Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price objective on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $333.39.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock opened at $303.74 on Wednesday. Sherwin-Williams has a twelve month low of $221.76 and a twelve month high of $348.37. The stock has a market capitalization of $77.29 billion, a P/E ratio of 32.38, a PEG ratio of 2.39 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32. The business’s fifty day moving average price is $328.26 and its 200 day moving average price is $298.77.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the previous year, the business posted $2.04 EPS. Sherwin-Williams’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Sherwin-Williams will post 11.46 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the transaction, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock valued at $10,340,237 over the last three months. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Sherwin-Williams

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank boosted its position in shares of Sherwin-Williams by 0.5% during the fourth quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock worth $2,358,000 after buying an additional 34 shares during the period. Tsfg LLC boosted its position in shares of Sherwin-Williams by 4.7% during the fourth quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock worth $235,000 after buying an additional 34 shares during the period. Manchester Capital Management LLC boosted its position in shares of Sherwin-Williams by 5.5% during the fourth quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock worth $208,000 after buying an additional 35 shares during the period. Tealwood Asset Management Inc. boosted its position in shares of Sherwin-Williams by 0.7% during the first quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 35 shares during the period. Finally, Ellsworth Advisors LLC boosted its position in shares of Sherwin-Williams by 0.9% during the fourth quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company’s stock worth $1,281,000 after buying an additional 36 shares during the period. 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.