Sherwin-Williams (NYSE:SHW) Given New $334.00 Price Target at Mizuho

Sherwin-Williams (NYSE:SHW) had its price target reduced by Mizuho from $340.00 to $334.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued reports about the stock. Robert W. Baird lifted their price objective on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a report on Wednesday. Loop Capital cut their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating on the stock in a report on Wednesday. StockNews.com raised shares of Sherwin-Williams from a hold rating to a buy rating in a report on Friday, March 8th. Finally, Wells Fargo & Company lifted their target price on Sherwin-Williams from $310.00 to $320.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $333.39.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $303.74 on Wednesday. The company has a fifty day moving average of $328.26 and a 200-day moving average of $298.77. The firm has a market capitalization of $77.29 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.39 and a beta of 1.15. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a twelve month low of $221.76 and a twelve month high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the business posted $2.04 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sherwin-Williams will post 11.46 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s payout ratio is 30.49%.

Insider Buying and Selling

In related news, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock valued at $10,340,237 over the last quarter. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Sherwin-Williams by 16.2% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,568 shares of the specialty chemicals company’s stock valued at $12,132,000 after buying an additional 6,639 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Sherwin-Williams during the fourth quarter valued at $38,444,000. Machina Capital S.A.S. lifted its position in Sherwin-Williams by 149.0% during the third quarter. Machina Capital S.A.S. now owns 9,695 shares of the specialty chemicals company’s stock valued at $2,473,000 after buying an additional 5,801 shares during the period. AIA Group Ltd raised its position in shares of Sherwin-Williams by 20.8% in the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock worth $5,088,000 after purchasing an additional 2,810 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Sherwin-Williams in the 3rd quarter worth about $4,517,000. 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.