Loop Capital Trims Sherwin-Williams (NYSE:SHW) Target Price to $380.00

Sherwin-Williams (NYSE:SHW) had its target price reduced by Loop Capital from $395.00 to $380.00 in a report issued on Wednesday, Benzinga reports. Loop Capital currently has a buy rating on the specialty chemicals company’s stock.

Several other brokerages have also recently issued reports on SHW. Seaport Res Ptn cut shares of Sherwin-Williams from a buy rating to a neutral rating in a research note on Monday, January 8th. Mizuho lowered their target price on shares of Sherwin-Williams from $352.00 to $340.00 and set a buy rating on the stock in a research note on Friday, January 26th. Wolfe Research started coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They set a peer perform rating on the stock. Citigroup lifted their price target on Sherwin-Williams from $360.00 to $390.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their price target on Sherwin-Williams from $285.00 to $317.00 and gave the stock an overweight rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of Moderate Buy and a consensus price target of $337.37.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $306.45 on Wednesday. The company’s fifty day moving average price is $328.05 and its 200 day moving average price is $299.19. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37. The stock has a market capitalization of $77.98 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.41 and a beta of 1.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW) last announced its 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 return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the firm earned $2.04 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.93%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Insider Activity at Sherwin-Williams

In related news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now directly owns 14,564 shares in the company, valued at approximately $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the sale, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,050 shares of company stock worth $10,340,237. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

Institutional investors and hedge funds have recently bought and sold shares of the business. First United Bank & Trust purchased a new stake in Sherwin-Williams during the fourth quarter worth about $31,000. OFI Invest Asset Management purchased a new stake in Sherwin-Williams during the third quarter worth about $25,000. Tortoise Investment Management LLC grew its position in shares of Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. Union Savings Bank acquired a new position in shares of Sherwin-Williams during the third quarter worth about $28,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Sherwin-Williams during the fourth quarter worth about $35,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

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.