Sherwin-Williams (NYSE:SHW) Hits New 12-Month High on Strong Earnings

Shares of The Sherwin-Williams Company (NYSE:SHW) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $354.76 and last traded at $353.67, with a volume of 2305709 shares. The stock had previously closed at $348.13.

The specialty chemicals company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 29.95%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Mizuho set a $395.00 price objective on Sherwin-Williams in a report on Tuesday, April 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Royal Bank of Canada raised their price objective on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group cut their target price on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Barclays decreased their price target on Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average price target of $397.00.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the sale, the insider now owns 5,365 shares in the company, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new position in Sherwin-Williams during the 4th quarter worth $26,000. Park Square Financial Group LLC acquired a new stake in Sherwin-Williams in the fourth quarter worth about $27,000. Perkins Coie Trust Co bought a new position in Sherwin-Williams in the 1st quarter valued at about $27,000. Lee Danner & Bass Inc. acquired a new position in Sherwin-Williams during the 4th quarter valued at about $28,000. Finally, Synergy Investment Management LLC raised its position in shares of Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Sherwin-Williams Trading Up 0.2 %

The business’s 50 day moving average price is $342.09 and its two-hundred day moving average price is $356.52. 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 market capitalization of $88.90 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.98 and a beta of 1.26.

Sherwin-Williams Company Profile

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.