Sherwin-Williams (NYSE:SHW) had its target price boosted by JPMorgan Chase & Co. from $490.00 to $560.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the specialty chemicals company’s stock.
Several other equities analysts have also recently commented on SHW. Buckingham Research boosted their price target on shares of Sherwin-Williams from $485.00 to $515.00 and gave the company a neutral rating in a report on Wednesday. UBS Group boosted their price target on shares of Sherwin-Williams from $475.00 to $555.00 and gave the company a neutral rating in a report on Wednesday, October 2nd. ValuEngine cut shares of Sherwin-Williams from a buy rating to a hold rating in a report on Wednesday, October 2nd. Credit Suisse Group boosted their price target on shares of Sherwin-Williams from $587.00 to $610.00 and gave the company an outperform rating in a report on Wednesday. Finally, Barclays boosted their price target on shares of Sherwin-Williams from $470.00 to $505.00 and gave the company an equal weight rating in a report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $574.76.
NYSE SHW traded up $10.18 on Wednesday, hitting $574.05. 454,512 shares of the stock were exchanged, compared to its average volume of 569,720. The company’s 50-day moving average price is $546.97 and its two-hundred day moving average price is $489.59. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.01 and a quick ratio of 0.50. Sherwin-Williams has a 52-week low of $355.28 and a 52-week high of $578.36. The company has a market capitalization of $52.30 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 2.22 and a beta of 1.27.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, November 14th. Sherwin-Williams’s dividend payout ratio is 24.39%.
In other news, Director David F. Hodnik sold 501 shares of the company’s 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 completion of the transaction, the director now owns 9,569 shares of the company’s stock, valued at $4,990,903.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jane M. Cronin sold 1,627 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $515.00, for a total transaction of $837,905.00. Following the transaction, the senior vice president now directly owns 3,598 shares of the company’s stock, valued at approximately $1,852,970. The disclosure for this sale can be found here. Insiders have sold 7,412 shares of company stock valued at $3,810,168 in the last ninety days. 0.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in Sherwin-Williams in the second quarter valued at about $25,000. Tortoise Investment Management LLC increased its stake in Sherwin-Williams by 235.3% in the second quarter. Tortoise Investment Management LLC now owns 57 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Hexavest Inc. bought a new stake in Sherwin-Williams in the second quarter valued at about $27,000. Next Capital Management LLC bought a new stake in Sherwin-Williams in the second quarter valued at about $27,000. Finally, Lenox Wealth Advisors LLC increased its stake in Sherwin-Williams by 55.3% in the third quarter. Lenox Wealth Advisors LLC now owns 59 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 21 shares during the period. 76.69% of the stock is owned by institutional investors and hedge funds.
Sherwin-Williams Company Profile
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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