Sherwin-Williams (NYSE:SHW) Stock Price Expected to Rise, Evercore ISI Analyst Says

Sherwin-Williams (NYSE:SHW) had its price objective hoisted by Evercore ISI from $400.00 to $420.00 in a research report released on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the specialty chemicals company’s stock.

Several other brokerages have also issued reports on SHW. Wells Fargo & Company increased their price target on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird upped their price target on Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. Jefferies Financial Group increased their target price on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $396.47.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded up $3.99 during midday trading on Thursday, reaching $387.99. 984,337 shares of the company’s stock were exchanged, compared to its average volume of 1,636,634. The stock’s 50-day simple moving average is $373.38 and its 200 day simple moving average is $338.03. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The firm has a market cap of $97.72 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 3.07 and a beta of 1.17. Sherwin-Williams has a 52 week low of $251.69 and a 52 week high of $392.57.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19). The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.20 EPS. On average, analysts expect that Sherwin-Williams will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is presently 28.49%.

Insider Buying and Selling

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Trading of Sherwin-Williams

Several institutional investors have recently added to or reduced their stakes in the stock. PineStone Asset Management Inc. lifted its holdings in Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after buying an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Sherwin-Williams by 610.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after purchasing an additional 898,143 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Sherwin-Williams by 40,317.4% during the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after purchasing an additional 724,907 shares in the last quarter. Jensen Investment Management Inc. acquired a new position in shares of Sherwin-Williams in the 2nd quarter valued at $169,770,000. Finally, 1832 Asset Management L.P. raised its stake in Sherwin-Williams by 54.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after acquiring an additional 496,326 shares in 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.