Sherwin-Williams Co (NYSE:SHW) – Stock analysts at Northcoast Research decreased their FY2019 earnings estimates for Sherwin-Williams in a report released on Thursday, October 24th. Northcoast Research analyst K. Hocevar now forecasts that the specialty chemicals company will earn $21.25 per share for the year, down from their prior estimate of $21.35. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Sherwin-Williams’ Q4 2019 earnings at $4.44 EPS, FY2020 earnings at $24.30 EPS and FY2021 earnings at $26.75 EPS.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $6.65 earnings per share for the quarter, beating analysts’ consensus estimates of $6.46 by $0.19. Sherwin-Williams had a return on equity of 50.96% and a net margin of 7.81%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the business posted $5.68 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year.
A number of other brokerages have also recently weighed in on SHW. Buckingham Research upped their price target on Sherwin-Williams from $485.00 to $515.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada set a $631.00 price objective on Sherwin-Williams and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Sherwin-Williams from $490.00 to $560.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on Sherwin-Williams from $604.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on Sherwin-Williams from $600.00 to $650.00 and gave the stock a “top pick” rating in a research note on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Sherwin-Williams presently has a consensus rating of “Buy” and an average target price of $578.62.
Shares of NYSE:SHW opened at $578.24 on Monday. The business’s fifty day moving average price is $550.35 and its two-hundred day moving average price is $492.17. Sherwin-Williams has a fifty-two week low of $362.41 and a fifty-two week high of $581.22. The stock has a market capitalization of $52.99 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.26 and a beta of 1.27. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.01 and a quick ratio of 0.50.
Several institutional investors and hedge funds have recently modified their holdings of SHW. Nuveen Asset Management LLC lifted its stake in Sherwin-Williams by 10,335.5% in the second quarter. Nuveen Asset Management LLC now owns 910,704 shares of the specialty chemicals company’s stock valued at $417,367,000 after buying an additional 901,977 shares during the period. BlackRock Inc. lifted its stake in Sherwin-Williams by 1.7% in the second quarter. BlackRock Inc. now owns 5,530,261 shares of the specialty chemicals company’s stock valued at $2,534,464,000 after buying an additional 90,828 shares during the period. Farallon Capital Management LLC lifted its stake in Sherwin-Williams by 21.2% in the second quarter. Farallon Capital Management LLC now owns 465,699 shares of the specialty chemicals company’s stock valued at $213,425,000 after buying an additional 81,536 shares during the period. Cibc World Markets Corp lifted its stake in Sherwin-Williams by 245.2% in the second quarter. Cibc World Markets Corp now owns 101,766 shares of the specialty chemicals company’s stock valued at $46,638,000 after buying an additional 72,284 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Sherwin-Williams by 107.9% in the second quarter. AQR Capital Management LLC now owns 133,572 shares of the specialty chemicals company’s stock valued at $60,583,000 after buying an additional 69,322 shares during the period. 76.69% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director David F. Hodnik sold 501 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $521.57, for a total transaction of $261,306.57. Following the transaction, the director now owns 9,569 shares of the company’s stock, valued at $4,990,903.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jane M. Cronin sold 1,627 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $515.00, for a total value of $837,905.00. Following the transaction, the senior vice president now directly owns 3,598 shares in the company, valued at approximately $1,852,970. The disclosure for this sale can be found here. Insiders have sold 11,662 shares of company stock worth $6,233,093 in the last ninety days. 0.50% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 14th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 24.39%.
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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