The Goldman Sachs Group Increases Sherwin-Williams (NYSE:SHW) Price Target to $390.00

Sherwin-Williams (NYSE:SHW) had its target price lifted by The Goldman Sachs Group from $344.00 to $390.00 in a research note published on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the specialty chemicals company’s stock.

SHW has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Evercore ISI raised their price objective on shares of Sherwin-Williams from $360.00 to $365.00 and gave the stock an outperform rating in a research note on Tuesday, May 14th. Loop Capital decreased their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating for the company in a research note on Wednesday, April 24th. UBS Group decreased their price objective on shares of Sherwin-Williams from $385.00 to $355.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada decreased their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an outperform rating for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $355.00.

Sherwin-Williams Trading Up 1.9 %

Shares of Sherwin-Williams stock opened at $349.22 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $351.99. The business has a 50-day moving average price of $307.26 and a 200-day moving average price of $314.86. The firm has a market cap of $88.09 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 2.75 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter last year, the firm earned $3.29 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that Sherwin-Williams will post 11.44 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s payout ratio is presently 30.49%.

Hedge Funds Weigh In On Sherwin-Williams

Large investors have recently made changes to their positions in the business. First United Bank & Trust acquired a new position in shares of Sherwin-Williams during the fourth quarter worth $31,000. Tortoise Investment Management LLC increased its position in shares of Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at $35,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at $36,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Sherwin-Williams in the 1st quarter valued at $47,000. 77.67% of the stock is 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.