Sherwin-Williams (NYSE:SHW) Price Target Lowered to $446.00 at Royal Bank of Canada

Sherwin-Williams (NYSE:SHW) had its target price reduced by Royal Bank of Canada from $455.00 to $446.00 in a research report report published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

A number of other analysts have also recently issued reports on the company. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Finally, Wells Fargo & Company increased their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and a consensus price target of $395.29.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $359.04 on Thursday. Sherwin-Williams has a 12-month low of $232.06 and a 12-month high of $392.57. The stock has a market cap of $91.03 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.50 and a debt-to-equity ratio of 1.97. The company has a fifty day simple moving average of $372.00 and a 200-day simple moving average of $335.02.

Sherwin-Williams (NYSE:SHW) last announced 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). The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 EPS. Equities analysts expect that Sherwin-Williams will post 11.31 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.80%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams 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 transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

A number of hedge funds have recently added to or reduced their stakes in SHW. GHP Investment Advisors Inc. boosted its stake in shares of Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 45 shares during the period. Semmax Financial Advisors Inc. raised its holdings in Sherwin-Williams by 136.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 60 shares during the period. VitalStone Financial LLC increased its holdings in shares of Sherwin-Williams by 233.3% in the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 77 shares during the period. Finally, Anfield Capital Management LLC bought a new position in shares of Sherwin-Williams in the second quarter worth $38,000. Institutional investors and hedge funds 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.