Sherwin-Williams (SHW) Receives Buy Rating from Royal Bank of Canada
Royal Bank of Canada restated their buy rating on shares of Sherwin-Williams (NYSE:SHW) in a research note published on Thursday morning. They currently have a $455.00 target price on the specialty chemicals company’s stock.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group restated an outperform rating and set a $410.00 price target (up from $375.00) on shares of Sherwin-Williams in a report on Wednesday, October 4th. Citigroup boosted their price target on shares of Sherwin-Williams from $405.00 to $442.00 and gave the company a buy rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Sherwin-Williams from a hold rating to a buy rating and set a $380.00 price target on the stock in a report on Wednesday, September 20th. Jefferies Group boosted their price target on shares of Sherwin-Williams from $364.00 to $400.00 and gave the company a hold rating in a report on Wednesday, October 4th. Finally, Bank of America upgraded shares of Sherwin-Williams from an underperform rating to a buy rating and boosted their price target for the company from $325.00 to $435.00 in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $404.10.
Sherwin-Williams (SHW) traded up $3.59 during midday trading on Thursday, reaching $403.82. 865,903 shares of the company’s stock traded hands, compared to its average volume of 626,662. Sherwin-Williams has a 12-month low of $265.14 and a 12-month high of $413.98. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a market cap of $37,915.22, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.26 and a beta of 1.22.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.70 by $0.05. Sherwin-Williams had a net margin of 7.82% and a return on equity of 58.02%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the previous year, the company posted $4.23 EPS. Sherwin-Williams’s revenue was up 37.4% on a year-over-year basis. equities research analysts expect that Sherwin-Williams will post 15.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Thursday, November 16th. Sherwin-Williams’s dividend payout ratio is presently 29.90%.
In related news, insider Robert J. Davisson sold 1,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $407.11, for a total value of $407,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Wells sold 2,946 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $409.11, for a total transaction of $1,205,238.06. Following the completion of the sale, the senior vice president now owns 18,363 shares of the company’s stock, valued at $7,512,486.93. The disclosure for this sale can be found here. Insiders sold 15,122 shares of company stock valued at $5,969,846 over the last quarter. 1.69% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SHW. Janus Henderson Group PLC lifted its position in Sherwin-Williams by 10,157.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,043,902 shares of the specialty chemicals company’s stock worth $366,368,000 after acquiring an additional 1,033,725 shares during the last quarter. FMR LLC lifted its position in Sherwin-Williams by 18.1% during the 2nd quarter. FMR LLC now owns 4,054,902 shares of the specialty chemicals company’s stock worth $1,423,109,000 after acquiring an additional 621,190 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Sherwin-Williams by 222.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 487,545 shares of the specialty chemicals company’s stock worth $171,109,000 after acquiring an additional 336,540 shares during the last quarter. Vanguard Group Inc. lifted its position in Sherwin-Williams by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 6,591,936 shares of the specialty chemicals company’s stock worth $2,313,506,000 after acquiring an additional 315,903 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Sherwin-Williams by 30.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,057,305 shares of the specialty chemicals company’s stock worth $378,558,000 after acquiring an additional 247,553 shares during the last quarter. 75.98% of the stock is owned by hedge funds and other institutional investors.
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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