Sherwin-Williams (NYSE:SHW) Price Target Cut to $334.00

Sherwin-Williams (NYSE:SHW) had its target price cut by Mizuho from $340.00 to $334.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upped their price target on shares of Sherwin-Williams from $310.00 to $320.00 and gave the company an equal weight rating in a report on Friday, January 26th. Seaport Res Ptn downgraded shares of Sherwin-Williams from a buy rating to a neutral rating in a report on Monday, January 8th. Robert W. Baird upped their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a neutral rating in a report on Wednesday. Evercore ISI cut their price target on shares of Sherwin-Williams from $385.00 to $380.00 and set an outperform rating on the stock in a report on Tuesday, April 16th. Finally, Barclays upped their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of Moderate Buy and an average price target of $341.39.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $306.45 on Wednesday. The company’s 50-day moving average price is $328.05 and its 200-day moving average price is $299.51. Sherwin-Williams has a twelve month low of $221.76 and a twelve month high of $348.37. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The company has a market cap of $77.98 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.47 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last posted 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 return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Sherwin-Williams will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.93%. Sherwin-Williams’s payout ratio is presently 30.49%.

Insider Transactions at Sherwin-Williams

In other news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Justin T. Binns sold 1,563 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the sale, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,050 shares of company stock valued at $10,340,237. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently bought and sold shares of SHW. OFI Invest Asset Management purchased a new stake in Sherwin-Williams during the third quarter valued at approximately $25,000. Union Savings Bank purchased a new stake in Sherwin-Williams during the third quarter valued at approximately $28,000. First United Bank & Trust purchased a new stake in Sherwin-Williams during the fourth quarter valued at approximately $31,000. Lee Financial Co purchased a new stake in Sherwin-Williams during the third quarter valued at approximately $32,000. Finally, BluePath Capital Management LLC purchased a new stake in Sherwin-Williams during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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.