Sherwin-Williams (NYSE:SHW) Upgraded to Overweight by KeyCorp

KeyCorp upgraded shares of Sherwin-Williams (NYSE:SHW) from a sector weight rating to an overweight rating in a research note released on Thursday morning, MarketBeat reports. KeyCorp currently has $400.00 target price on the specialty chemicals company’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of Sherwin-Williams from a hold rating to a buy rating in a research note on Friday, March 8th. Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $346.00 to $341.00 and set an outperform rating on the stock in a research note on Friday, January 26th. Barclays boosted their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Loop Capital reduced their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Citigroup boosted their price target on shares of Sherwin-Williams from $360.00 to $390.00 and gave the company a buy rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $337.37.

Sherwin-Williams Price Performance

Shares of SHW stock opened at $304.80 on Thursday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48. The firm’s 50-day moving average is $328.10 and its two-hundred day moving average is $298.81. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37. The company has a market capitalization of $77.56 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the firm earned $2.04 earnings per share. Sherwin-Williams’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts predict that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

Insiders Place Their Bets

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Justin T. Binns sold 1,563 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now 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 worth $10,340,237 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHW. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams in the 3rd quarter valued at $25,000. Union Savings Bank acquired a new position in shares of Sherwin-Williams in the 3rd quarter valued at $28,000. First United Bank & Trust acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at $31,000. Lee Financial Co purchased a new stake in Sherwin-Williams in the 3rd quarter valued at $32,000. Finally, BluePath Capital Management LLC purchased a new stake in Sherwin-Williams in the 3rd quarter valued at $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.