Sherwin-Williams (NYSE:SHW) had its target price boosted by JPMorgan Chase & Co. from $555.00 to $637.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has a neutral rating on the specialty chemicals company’s stock.
SHW has been the subject of several other research reports. Loop Capital increased their price target on Sherwin-Williams from $625.00 to $695.00 and gave the company a buy rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Sherwin-Williams from $655.00 to $700.00 and gave the company an outperform rating in a research note on Wednesday. Wells Fargo & Co raised their target price on Sherwin-Williams from $675.00 to $700.00 and gave the stock an overweight rating in a research note on Wednesday. Bank of America raised their target price on Sherwin-Williams from $565.00 to $600.00 and gave the stock an underperform rating in a research note on Wednesday. Finally, Deutsche Bank raised their target price on Sherwin-Williams from $675.00 to $700.00 and gave the stock a buy rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $641.95.
Shares of SHW stock opened at $647.92 on Wednesday. The stock has a market cap of $58.99 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 3.10 and a beta of 1.22. The stock has a 50-day moving average of $588.73 and a 200-day moving average of $550.00. The company has a current ratio of 1.10, a quick ratio of 0.57 and a debt-to-equity ratio of 2.50. Sherwin-Williams has a 1-year low of $325.43 and a 1-year high of $659.87.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $7.10 earnings per share for the quarter, beating the consensus estimate of $5.69 by $1.41. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.55 billion. Sherwin-Williams had a return on equity of 53.67% and a net margin of 9.83%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.57 earnings per share. Sell-side analysts forecast that Sherwin-Williams will post 22.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $1.34 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.36 annualized dividend and a yield of 0.83%. Sherwin-Williams’s payout ratio is currently 25.38%.
In other news, COO David B. Sewell sold 5,752 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $571.13, for a total value of $3,285,139.76. Following the transaction, the chief operating officer now owns 14,100 shares in the company, valued at $8,052,933. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aaron M. Erter sold 935 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $534.70, for a total value of $499,944.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,481 shares of company stock worth $11,529,647. Corporate insiders own 0.55% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. HMS Capital Management LLC bought a new stake in Sherwin-Williams during the second quarter worth $382,000. National Asset Management Inc. lifted its holdings in Sherwin-Williams by 7.1% during the second quarter. National Asset Management Inc. now owns 1,293 shares of the specialty chemicals company’s stock worth $747,000 after acquiring an additional 86 shares during the period. Lincoln National Corp lifted its holdings in Sherwin-Williams by 27.0% during the second quarter. Lincoln National Corp now owns 3,481 shares of the specialty chemicals company’s stock worth $2,011,000 after acquiring an additional 741 shares during the period. Sigma Planning Corp lifted its holdings in Sherwin-Williams by 6.0% during the second quarter. Sigma Planning Corp now owns 2,350 shares of the specialty chemicals company’s stock worth $1,358,000 after acquiring an additional 133 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Sherwin-Williams during the second quarter worth $370,000. Institutional investors and hedge funds own 76.25% of the company’s stock.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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