Sherwin-Williams (NYSE:SHW) Upgraded at StockNews.com

StockNews.com upgraded shares of Sherwin-Williams (NYSE:SHW) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other analysts have also recently weighed in on the stock. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Robert W. Baird boosted their target price on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Morgan Stanley increased their price objective on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company upped their price target on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average target price of $396.47.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $371.66 on Wednesday. The stock has a market cap of $93.60 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 3.05 and a beta of 1.17. The company has a fifty day simple moving average of $376.69 and a 200-day simple moving average of $343.40. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. Sherwin-Williams has a 12-month low of $270.95 and a 12-month high of $392.57.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data 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). Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the company posted $3.20 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. Equities analysts expect that Sherwin-Williams will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 28.49%.

Insider Transactions at Sherwin-Williams

In related 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 completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the sale, the senior vice president now directly owns 6,329 shares in the company, valued at $2,396,349.27. This trade represents a 28.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Institutional investors and hedge funds have recently made changes to their positions in the business. Griffin Asset Management Inc. raised its position in Sherwin-Williams by 0.3% during the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after acquiring an additional 26 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Sherwin-Williams by 2.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after buying an additional 28 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Sherwin-Williams by 47.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter. Allworth Financial LP increased its position in Sherwin-Williams by 1.8% during the third quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after buying an additional 28 shares in the last quarter. Finally, First Interstate Bank raised its holdings in shares of Sherwin-Williams by 1.9% in the third quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock worth $560,000 after acquiring an additional 28 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

About Sherwin-Williams

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.