Wells Fargo & Company Boosts Sherwin-Williams (NYSE:SHW) Price Target to $400.00

Sherwin-Williams (NYSE:SHW) had its price objective increased by Wells Fargo & Company from $350.00 to $400.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

SHW has been the subject of several other research reports. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. UBS Group boosted their target price on shares of Sherwin-Williams from $375.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets boosted their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Barclays boosted their target price on shares of Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird upped their target price on shares of Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $373.17.

Sherwin-Williams Stock Down 0.1 %

Shares of Sherwin-Williams stock opened at $389.07 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The business has a 50-day moving average price of $369.72 and a 200 day moving average price of $333.53. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $392.57. The firm has a market cap of $98.15 billion, a P/E ratio of 39.66, a P/E/G ratio of 3.01 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the business earned $3.29 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts forecast that Sherwin-Williams will post 11.5 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio (DPR) is 29.15%.

Insider Activity

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of SHW. SageView Advisory Group LLC acquired a new position in Sherwin-Williams during the fourth quarter valued at $808,000. MONECO Advisors LLC acquired a new position in Sherwin-Williams during the fourth quarter valued at $221,000. CWM LLC raised its position in Sherwin-Williams by 10.6% during the first quarter. CWM LLC now owns 6,944 shares of the specialty chemicals company’s stock valued at $2,412,000 after buying an additional 668 shares during the period. NBC Securities Inc. raised its position in Sherwin-Williams by 9.6% during the first quarter. NBC Securities Inc. now owns 1,280 shares of the specialty chemicals company’s stock valued at $444,000 after buying an additional 112 shares during the period. Finally, GAMMA Investing LLC raised its position in Sherwin-Williams by 42.6% during the first quarter. GAMMA Investing LLC now owns 2,164 shares of the specialty chemicals company’s stock valued at $752,000 after buying an additional 647 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

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.