Credit Agricole SA Reiterates “Buy” Rating for Sherwin-Williams Co. (SHW)
Other analysts have also recently issued reports about the company. Seaport Global Securities cut Sherwin-Williams from an accumulate rating to a neutral rating and set a $320.00 price target for the company. in a report on Monday, July 11th. Zacks Investment Research raised Sherwin-Williams from a sell rating to a hold rating in a report on Tuesday, July 12th. Morgan Stanley reissued a buy rating on shares of Sherwin-Williams in a report on Wednesday, June 8th. Robert W. Baird reissued an outperform rating and issued a $330.00 price target on shares of Sherwin-Williams in a report on Monday, July 25th. Finally, RBC Capital Markets reissued an outperform rating and issued a $335.00 price target on shares of Sherwin-Williams in a report on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $324.85.
Sherwin-Williams (NYSE:SHW) opened at 273.53 on Wednesday. Sherwin-Williams has a 1-year low of $218.27 and a 1-year high of $312.48. The firm’s 50-day moving average price is $288.11 and its 200-day moving average price is $291.04. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 23.07 and a beta of 0.87.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by $0.10. Sherwin-Williams had a return on equity of 110.16% and a net margin of 9.50%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the business posted $3.70 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Sherwin-Williams will post $12.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, August 17th. Sherwin-Williams’s dividend payout ratio (DPR) is 28.84%.
In other news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $300.16, for a total value of $1,156,516.48. Following the sale, the insider now owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.
Large investors have recently bought and sold shares of the company. Lone Pine Capital LLC acquired a new stake in Sherwin-Williams during the second quarter valued at about $335,861,000. Third Point LLC acquired a new stake in Sherwin-Williams during the second quarter valued at about $205,569,000. Norges Bank acquired a new stake in Sherwin-Williams during the fourth quarter valued at about $173,995,000. Ameriprise Financial Inc. boosted its stake in Sherwin-Williams by 50.1% in the second quarter. Ameriprise Financial Inc. now owns 1,768,167 shares of the company’s stock valued at $519,233,000 after buying an additional 590,350 shares during the period. Finally, Capital World Investors acquired a new stake in Sherwin-Williams during the second quarter valued at about $120,440,000. Institutional investors and hedge funds own 74.74% of the company’s stock.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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