Sherwin-Williams (NYSE:SHW) Upgraded to Buy at Berenberg Bank

Berenberg Bank upgraded shares of Sherwin-Williams (NYSE:SHW) from a hold rating to a buy rating in a research note released on Friday, Marketbeat.com reports. They currently have $420.00 target price on the specialty chemicals company’s stock, up from their prior target price of $321.00.

A number of other brokerages have also issued reports on SHW. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. UBS Group restated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Robert W. Baird upped their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup dropped their target price on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued 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 a consensus price target of $403.29.

Sherwin-Williams Stock Performance

Shares of SHW opened at $360.06 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The firm’s 50 day moving average is $361.60 and its 200-day moving average is $361.13. Sherwin-Williams has a 12-month low of $282.09 and a 12-month high of $400.42. The stock has a market capitalization of $90.68 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.78 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm posted $3.20 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts anticipate that Sherwin-Williams will post 11.32 EPS for the current fiscal year.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, SVP Mary L. Garceau sold 15,770 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the transaction, the senior vice president now directly owns 29,205 shares in the company, valued at $11,621,253.60. This trade represents a 35.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,396,349.27. This represents a 28.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. raised its position in shares of Sherwin-Williams by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock valued at $3,548,000 after purchasing an additional 26 shares during the period. Capital Advisors Ltd. LLC raised its holdings 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 worth $458,000 after acquiring an additional 28 shares during the period. GHP Investment Advisors Inc. lifted its position 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 worth $33,000 after acquiring an additional 28 shares during the last quarter. Allworth Financial LP boosted its holdings 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 valued at $595,000 after acquiring an additional 28 shares during the period. Finally, First Interstate Bank grew its position 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 valued at $560,000 after purchasing an additional 28 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

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.