Sherwin-Williams (NYSE:SHW) Price Target Raised to $350.00

Sherwin-Williams (NYSE:SHW) had its price target increased by Wells Fargo & Company from $320.00 to $350.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

A number of other analysts have also recently commented on SHW. Robert W. Baird boosted their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Evercore ISI boosted their target price on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an outperform rating in a report on Tuesday, May 14th. Mizuho dropped their price target on shares of Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Loop Capital dropped their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Finally, BMO Capital Markets upped their price target on shares of Sherwin-Williams from $360.00 to $386.00 and gave the stock an outperform rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $355.00.

Sherwin-Williams Stock Up 1.9 %

Shares of NYSE SHW opened at $349.22 on Wednesday. The company has a market cap of $88.09 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 2.75 and a beta of 1.16. The firm’s fifty day moving average is $307.26 and its 200 day moving average is $314.86. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $351.99. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.19. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.29 earnings per share. On average, equities research analysts expect that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a $0.715 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.82%. Sherwin-Williams’s payout ratio is 30.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC boosted its stake in Sherwin-Williams by 2.4% in the 2nd quarter. HB Wealth Management LLC now owns 21,120 shares of the specialty chemicals company’s stock worth $6,303,000 after purchasing an additional 502 shares during the period. Strategic Blueprint LLC boosted its position in shares of Sherwin-Williams by 2.5% during the 2nd quarter. Strategic Blueprint LLC now owns 6,226 shares of the specialty chemicals company’s stock valued at $1,858,000 after acquiring an additional 149 shares during the last quarter. Detalus Advisors LLC boosted its position in shares of Sherwin-Williams by 9.3% during the 2nd quarter. Detalus Advisors LLC now owns 715 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 61 shares during the last quarter. Conning Inc. boosted its position in shares of Sherwin-Williams by 1.9% during the 2nd quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock valued at $479,000 after acquiring an additional 30 shares during the last quarter. Finally, Meixler Investment Management Ltd. boosted its position in shares of Sherwin-Williams by 5.1% during the 2nd quarter. Meixler Investment Management Ltd. now owns 695 shares of the specialty chemicals company’s stock valued at $207,000 after acquiring an additional 34 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

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.