Sherwin-Williams (NYSE:SHW) Price Target Cut to $380.00 by Analysts at Loop Capital

Sherwin-Williams (NYSE:SHW) had its price objective trimmed by Loop Capital from $395.00 to $380.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup increased their price objective on shares of Sherwin-Williams from $360.00 to $390.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Wolfe Research started coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They issued a peer perform rating for the company. StockNews.com upgraded shares of Sherwin-Williams from a hold rating to a buy rating in a research note on Friday, March 8th. Barclays raised their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sherwin-Williams from $285.00 to $317.00 and gave the company an overweight rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $333.39.

Sherwin-Williams Price Performance

SHW stock opened at $303.74 on Wednesday. The stock has a 50-day moving average price of $328.26 and a two-hundred day moving average price of $298.77. The stock has a market cap of $77.29 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. Sherwin-Williams’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. Equities analysts forecast that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.715 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.94%. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Insider Transactions at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the transaction, the insider now directly owns 9,329 shares in the company, valued at $2,925,014.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SHW. OFI Invest Asset Management bought a new position in Sherwin-Williams in the third quarter valued at approximately $25,000. Union Savings Bank acquired a new stake in Sherwin-Williams in the third quarter valued at approximately $28,000. First United Bank & Trust acquired a new stake in Sherwin-Williams in the fourth quarter valued at approximately $31,000. Lee Financial Co acquired a new stake in Sherwin-Williams in the third quarter valued at approximately $32,000. Finally, BluePath Capital Management LLC acquired a new stake in Sherwin-Williams in the third quarter valued at approximately $33,000. 77.67% of the stock is owned by 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.