Sherwin-Williams Co (NYSE:SHW) – Stock analysts at Seaport Global Securities reduced their FY2019 earnings per share estimates for shares of Sherwin-Williams in a report issued on Monday, October 14th. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $21.26 for the year, down from their prior estimate of $21.37. Seaport Global Securities also issued estimates for Sherwin-Williams’ Q4 2019 earnings at $4.58 EPS, Q1 2020 earnings at $4.24 EPS, Q2 2020 earnings at $7.40 EPS, Q4 2020 earnings at $5.31 EPS and FY2020 earnings at $24.19 EPS.
Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Buckingham Research lifted their target price on shares of Sherwin-Williams from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. They noted that the move was a valuation call. KeyCorp lifted their target price on shares of Sherwin-Williams from $500.00 to $525.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. BMO Capital Markets lifted their target price on shares of Sherwin-Williams from $517.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research upgraded shares of Sherwin-Williams from a “sell” rating to a “hold” rating and set a $526.00 target price on the stock in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $543.85.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.22. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $5.73 EPS.
In related news, insider David B. Sewell sold 4,709 shares of Sherwin-Williams stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $493.52, for a total transaction of $2,323,985.68. Following the completion of the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $6,220,326.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David F. Hodnik sold 501 shares of Sherwin-Williams stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.57, for a total transaction of $261,306.57. Following the transaction, the director now directly owns 9,569 shares of the company’s stock, valued at $4,990,903.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,121 shares of company stock worth $6,134,153. 0.50% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Krane Funds Advisors LLC bought a new position in Sherwin-Williams during the 2nd quarter valued at about $25,000. Tortoise Investment Management LLC lifted its holdings in Sherwin-Williams by 235.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 57 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Hexavest Inc. bought a new position in Sherwin-Williams during the 2nd quarter valued at about $27,000. Lenox Wealth Advisors LLC lifted its holdings in Sherwin-Williams by 55.3% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 59 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 21 shares during the last quarter. Finally, Next Capital Management LLC bought a new position in Sherwin-Williams during the 2nd quarter valued at about $27,000. 76.70% of the stock is owned by hedge funds and other institutional investors.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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