Citigroup Trims Sherwin-Williams (NYSE:SHW) Target Price to $370.00

Sherwin-Williams (NYSE:SHW) had its price objective cut by Citigroup from $390.00 to $370.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

A number of other research analysts have also issued reports on the stock. UBS Group upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and upped their target price for the company from $312.00 to $402.00 in a report on Thursday, March 7th. Royal Bank of Canada reduced their target price on shares of Sherwin-Williams from $380.00 to $370.00 and set an outperform rating on the stock in a report on Thursday. Loop Capital dropped their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating for the company in a research note on Wednesday. Mizuho dropped their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a buy rating for the company in a research note on Wednesday. Finally, Evercore ISI dropped their price objective on shares of Sherwin-Williams from $385.00 to $380.00 and set an outperform rating for the company in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of Moderate Buy and an average price target of $341.39.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $306.45 on Thursday. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The firm’s 50-day simple moving average is $328.05 and its 200 day simple moving average is $299.51. The firm has a market capitalization of $77.98 billion, a PE ratio of 32.67, a P/E/G ratio of 2.47 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. Sherwin-Williams’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. On average, equities research analysts predict that Sherwin-Williams will post 11.43 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

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

Insider Buying and Selling

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $322.66, for a total value of $7,588,317.88. Following the completion of the sale, the senior vice president now owns 28,475 shares of the company’s stock, valued at $9,187,743.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of the 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 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. In the last quarter, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Sherwin-Williams

Several large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in shares of Sherwin-Williams by 9,310.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 941 shares of the specialty chemicals company’s stock valued at $240,000 after buying an additional 931 shares during the last quarter. Caprock Group LLC boosted its stake in shares of Sherwin-Williams by 6.0% during the 3rd quarter. Caprock Group LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $907,000 after buying an additional 201 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Sherwin-Williams by 3.0% during the 3rd quarter. UMB Bank n.a. now owns 11,393 shares of the specialty chemicals company’s stock valued at $2,906,000 after buying an additional 336 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Sherwin-Williams during the 3rd quarter valued at approximately $353,000. Finally, Czech National Bank boosted its stake in shares of Sherwin-Williams by 48.8% during the 3rd quarter. Czech National Bank now owns 41,348 shares of the specialty chemicals company’s stock valued at $10,546,000 after buying an additional 13,558 shares during the last quarter. 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.