Sherwin-Williams (NYSE:SHW) Given New $380.00 Price Target at Wells Fargo & Company

Sherwin-Williams (NYSE:SHW) had its price target decreased by Wells Fargo & Company from $400.00 to $380.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the specialty chemicals company’s stock.

Several other research analysts have also recently weighed in on the stock. Citigroup restated a “buy” rating and issued a $423.00 price objective (up from $418.00) on shares of Sherwin-Williams in a research report on Wednesday, February 26th. Berenberg Bank upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and raised their price objective for the company from $321.00 to $420.00 in a research report on Friday, January 24th. Royal Bank of Canada dropped their price objective on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Morgan Stanley lowered their price target on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $398.94.

Sherwin-Williams Stock Down 3.7 %

Shares of NYSE:SHW opened at $340.71 on Thursday. The firm has a fifty day moving average price of $352.80 and a two-hundred day moving average price of $363.23. The company has a market cap of $85.69 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.98 and a beta of 1.23. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. Sherwin-Williams has a one year low of $282.09 and a one year high of $400.42.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business earned $1.81 earnings per share. Analysts anticipate that Sherwin-Williams will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

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

Insider Transactions at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently modified their holdings of SHW. Principal Financial Group Inc. raised its position in shares of Sherwin-Williams by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,047,174 shares of the specialty chemicals company’s stock worth $399,675,000 after acquiring an additional 10,709 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Sherwin-Williams by 8.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,266 shares of the specialty chemicals company’s stock worth $865,000 after buying an additional 177 shares during the period. IHT Wealth Management LLC grew its position in shares of Sherwin-Williams by 54.1% in the 3rd quarter. IHT Wealth Management LLC now owns 8,063 shares of the specialty chemicals company’s stock worth $3,075,000 after buying an additional 2,832 shares during the period. Royal London Asset Management Ltd. increased its position in Sherwin-Williams by 3.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 109,766 shares of the specialty chemicals company’s stock valued at $41,894,000 after buying an additional 3,200 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Sherwin-Williams by 48.0% during the third quarter. Quantinno Capital Management LP now owns 31,988 shares of the specialty chemicals company’s stock valued at $12,209,000 after acquiring an additional 10,378 shares in the last quarter. 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.