Sherwin-Williams (NYSE:SHW) Given New $370.00 Price Target at Royal Bank of Canada

Sherwin-Williams (NYSE:SHW) had its price objective trimmed by Royal Bank of Canada from $380.00 to $370.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued research reports about the stock. Northcoast Research upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 target price for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a research report on Wednesday. Wolfe Research started coverage on shares of Sherwin-Williams in a research report on Friday, March 1st. They issued a peer perform rating for the company. Seaport Res Ptn lowered shares of Sherwin-Williams from a buy rating to a neutral rating in a research note on Monday, January 8th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $377.00 price target (down from $385.00) on shares of Sherwin-Williams in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams currently has an average rating of Moderate Buy and an average target price of $337.37.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $304.81 on Thursday. 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 fifty-two week low of $221.76 and a fifty-two week high of $348.37. The firm has a 50-day simple moving average of $328.10 and a 200 day simple moving average of $298.81. The company has a market cap of $77.56 billion, a PE ratio of 32.49, a P/E/G ratio of 2.41 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the company earned $2.04 EPS. Sherwin-Williams’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Sherwin-Williams will post 11.44 EPS for the current year.

Sherwin-Williams Dividend Announcement

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

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Todd D. Rea sold 2,449 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of Sherwin-Williams during the 3rd quarter worth approximately $25,000. Union Savings Bank bought a new position in Sherwin-Williams during the 3rd quarter worth approximately $28,000. First United Bank & Trust bought a new position in Sherwin-Williams in the fourth quarter valued at approximately $31,000. Lee Financial Co bought a new position in Sherwin-Williams in the third quarter valued at approximately $32,000. Finally, BluePath Capital Management LLC bought a new position in Sherwin-Williams in the third quarter valued at approximately $33,000. Institutional investors and hedge funds 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.