Sherwin-Williams Company (The) (SHW) Raised to Buy at Bank of America Corporation

Bank of America Corporation upgraded shares of Sherwin-Williams Company (The) (NYSE:SHW) from an underperform rating to a buy rating in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has $435.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $325.00.

SHW has been the topic of a number of other reports. UBS AG reaffirmed a neutral rating and set a $375.00 target price (up from $359.00) on shares of Sherwin-Williams Company (The) in a research report on Wednesday, July 26th. Credit Suisse Group reaffirmed an outperform rating and set a $410.00 target price (up from $375.00) on shares of Sherwin-Williams Company (The) in a research report on Wednesday. Northcoast Research reaffirmed a buy rating on shares of Sherwin-Williams Company (The) in a research report on Wednesday, July 19th. BidaskClub lowered Sherwin-Williams Company (The) from a strong-buy rating to a buy rating in a research report on Saturday, July 1st. Finally, Vertical Research reaffirmed a hold rating and set a $375.00 target price (up from $335.00) on shares of Sherwin-Williams Company (The) in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Sherwin-Williams Company (The) has an average rating of Buy and an average price target of $385.51.

Sherwin-Williams Company (NYSE SHW) opened at 383.47 on Thursday. Sherwin-Williams Company has a 52-week low of $239.48 and a 52-week high of $383.64. The firm has a market capitalization of $35.60 billion, a PE ratio of 31.61 and a beta of 1.22. The stock’s 50 day moving average price is $347.85 and its 200 day moving average price is $339.05.

Sherwin-Williams Company (The) (NYSE:SHW) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.54 by ($0.02). Sherwin-Williams Company (The) had a net margin of 9.14% and a return on equity of 63.81%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the business earned $4.06 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Sherwin-Williams Company will post $14.66 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 16th. This represents a $3.40 annualized dividend and a dividend yield of 0.89%. Sherwin-Williams Company (The)’s dividend payout ratio is presently 28.05%.

A number of large investors have recently made changes to their positions in SHW. Tower Research Capital LLC TRC bought a new stake in Sherwin-Williams Company (The) during the second quarter worth approximately $100,000. American Beacon Advisors Inc. bought a new stake in Sherwin-Williams Company (The) during the first quarter worth approximately $106,000. Peddock Capital Advisors LLC bought a new stake in Sherwin-Williams Company (The) during the second quarter worth approximately $123,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Sherwin-Williams Company (The) by 7.3% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 429 shares of the specialty chemicals company’s stock worth $145,000 after purchasing an additional 29 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Sherwin-Williams Company (The) by 2.6% during the first quarter. Parallel Advisors LLC now owns 432 shares of the specialty chemicals company’s stock worth $144,000 after purchasing an additional 11 shares in the last quarter. 73.83% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Company (The) Company Profile

The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

Analyst Recommendations for Sherwin-Williams Company (The) (NYSE:SHW)

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