Barclays Cuts Sherwin-Williams (NYSE:SHW) Price Target to $355.00

Sherwin-Williams (NYSE:SHW) had its price objective lowered by Barclays from $385.00 to $355.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

Several other equities research analysts have also recently issued reports on SHW. Morgan Stanley reduced their target price on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group restated a “hold” rating and set a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Berenberg Bank raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and raised their target price for the company from $321.00 to $420.00 in a report on Friday, January 24th. Finally, Mizuho reduced their price target on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $398.94.

Sherwin-Williams Stock Performance

NYSE SHW opened at $340.71 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02. Sherwin-Williams has a twelve month low of $282.09 and a twelve month high of $400.42. The business has a 50-day moving average price of $352.80 and a 200-day moving average price of $363.23. The firm has a market cap of $85.69 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period in the prior year, the business posted $1.81 earnings per share. As a group, equities research analysts predict that Sherwin-Williams will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.93%. Sherwin-Williams’s dividend payout ratio is currently 29.95%.

Insider Buying and Selling

In related news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the transaction, the insider now owns 5,365 shares of the company’s stock, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sherwin-Williams

Large investors have recently added to or reduced their stakes in the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at approximately $26,000. Park Square Financial Group LLC bought a new stake in Sherwin-Williams during the 4th quarter valued at $27,000. Lee Danner & Bass Inc. purchased a new stake in shares of Sherwin-Williams in the 4th quarter worth $28,000. Sierra Ocean LLC bought a new position in shares of Sherwin-Williams during the 4th quarter worth $36,000. Finally, WR Wealth Planners LLC increased its stake in shares of Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 35 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.