BMO Capital Markets Reaffirms Outperform Rating for Sherwin-Williams (NYSE:SHW)

BMO Capital Markets reissued their outperform rating on shares of Sherwin-Williams (NYSE:SHW) in a research note released on Wednesday morning, Benzinga reports. They currently have a $400.00 target price on the specialty chemicals company’s stock, up from their prior target price of $386.00.

SHW has been the topic of a number of other reports. Evercore ISI lifted their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the company an outperform rating in a report on Friday, August 30th. Morgan Stanley boosted their target price on Sherwin-Williams from $338.00 to $375.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. The Goldman Sachs Group boosted their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an outperform rating and issued a $418.00 target price on shares of Sherwin-Williams in a report on Friday, August 30th. Finally, Barclays boosted their target price on Sherwin-Williams from $315.00 to $355.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $362.68.

Sherwin-Williams Trading Up 0.2 %

Shares of SHW opened at $360.83 on Wednesday. Sherwin-Williams has a 12-month low of $232.06 and a 12-month high of $371.19. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $91.02 billion, a price-to-earnings ratio of 38.47, a P/E/G ratio of 2.90 and a beta of 1.17. The stock’s 50-day moving average price is $339.22 and its 200 day moving average price is $324.88.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 earnings per share. As a group, research analysts predict that Sherwin-Williams will post 11.47 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, August 16th. Sherwin-Williams’s payout ratio is 30.49%.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

A number of large investors have recently made changes to their positions in the company. Conning Inc. increased its position in shares of Sherwin-Williams by 1.9% in the 2nd quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock valued at $479,000 after buying an additional 30 shares in the last quarter. Oxbow Advisors LLC boosted its stake in Sherwin-Williams by 4.5% in the 2nd quarter. Oxbow Advisors LLC now owns 690 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 30 shares during the period. Global X Japan Co. Ltd. boosted its stake in Sherwin-Williams by 2.2% in the 2nd quarter. Global X Japan Co. Ltd. now owns 1,403 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 30 shares during the period. Optas LLC boosted its stake in Sherwin-Williams by 1.3% in the 2nd quarter. Optas LLC now owns 2,424 shares of the specialty chemicals company’s stock worth $723,000 after purchasing an additional 32 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in Sherwin-Williams by 2.9% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,173 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 33 shares during the period. Institutional investors own 77.67% of the company’s stock.

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.