Sherwin-Williams (NYSE:SHW) Price Target Raised to $420.00 at Evercore ISI

Sherwin-Williams (NYSE:SHW) had its target price lifted by Evercore ISI from $400.00 to $420.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays raised their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Citigroup decreased their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

Sherwin-Williams Stock Up 1.0 %

Shares of SHW stock traded up $3.99 during trading hours on Thursday, reaching $387.99. 984,337 shares of the company’s stock were exchanged, compared to its average volume of 1,636,634. Sherwin-Williams has a 1 year low of $251.69 and a 1 year high of $392.57. The stock’s fifty day moving average price is $373.38 and its two-hundred day moving average price is $338.03. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The stock has a market cap of $97.72 billion, a PE ratio of 38.25, a PEG ratio of 3.07 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the company posted $3.20 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Research analysts predict that Sherwin-Williams will post 11.32 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.74%. Sherwin-Williams’s dividend payout ratio is 28.49%.

Insider Activity at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norden Group LLC bought a new position in shares of Sherwin-Williams during the first quarter valued at $329,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Sherwin-Williams by 2.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,082 shares of the specialty chemicals company’s stock worth $5,933,000 after purchasing an additional 346 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Sherwin-Williams by 25.5% in the first quarter. Empowered Funds LLC now owns 4,248 shares of the specialty chemicals company’s stock valued at $1,475,000 after buying an additional 863 shares during the last quarter. SG Americas Securities LLC increased its position in Sherwin-Williams by 668.9% in the 1st quarter. SG Americas Securities LLC now owns 68,065 shares of the specialty chemicals company’s stock valued at $23,641,000 after acquiring an additional 59,213 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC bought a new stake in shares of Sherwin-Williams during the first quarter valued at approximately $4,988,000. Institutional investors own 77.67% of the company’s stock.

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.