Sherwin-Williams (NYSE:SHW) Given New $400.00 Price Target at Evercore ISI

Sherwin-Williams (NYSE:SHW) had its price objective lowered by Evercore ISI from $410.00 to $400.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group raised their target price on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Morgan Stanley raised their price objective on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. 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 report on Monday, September 30th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $390.71.

Sherwin-Williams Stock Up 0.4 %

Shares of NYSE SHW opened at $362.72 on Wednesday. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $392.57. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The company’s 50 day moving average price is $371.81 and its 200-day moving average price is $334.64. The company has a market capitalization of $91.50 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 3.04 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the firm earned $3.20 EPS. Sherwin-Williams’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that Sherwin-Williams will post 11.49 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s payout ratio is currently 29.15%.

Insiders Place Their Bets

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHW. BKM Wealth Management LLC bought a new position in shares of Sherwin-Williams in the third quarter valued at approximately $619,000. Allworth Financial LP boosted its position in Sherwin-Williams by 1.8% in the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the last quarter. Massachusetts Wealth Management grew its stake in Sherwin-Williams by 2.0% in the 3rd quarter. Massachusetts Wealth Management now owns 3,645 shares of the specialty chemicals company’s stock valued at $1,391,000 after purchasing an additional 70 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Sherwin-Williams by 35.8% during the 3rd quarter. Mediolanum International Funds Ltd now owns 33,626 shares of the specialty chemicals company’s stock valued at $12,848,000 after purchasing an additional 8,856 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of Sherwin-Williams by 4.9% during the 3rd quarter. Lake Street Advisors Group LLC now owns 5,838 shares of the specialty chemicals company’s stock worth $2,228,000 after purchasing an additional 274 shares during the period. 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.