Sherwin-Williams Co. (SHW) Now Covered by Analysts at Atlantic Securities
Atlantic Securities began coverage on shares of Sherwin-Williams Co. (NYSE:SHW) in a research note released on Tuesday morning. The brokerage issued an overweight rating and a $325.00 price target on the stock.
Other analysts have also issued research reports about the company. RBC Capital Markets reaffirmed an outperform rating and issued a $335.00 target price on shares of Sherwin-Williams in a report on Saturday, August 13th. Zacks Investment Research lowered Sherwin-Williams from a buy rating to a hold rating in a report on Thursday, October 27th. reaffirmed a buy rating and issued a $350.00 target price on shares of Sherwin-Williams in a report on Wednesday, September 14th. Vetr lowered Sherwin-Williams from a strong-buy rating to a buy rating and set a $292.87 target price on the stock. in a report on Thursday, November 10th. Finally, Sterne Agee CRT upgraded Sherwin-Williams from a neutral rating to a buy rating in a research report on Thursday, August 25th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $322.72.
Sherwin-Williams (NYSE:SHW) opened at 276.32 on Tuesday. Sherwin-Williams has a 1-year low of $234.96 and a 1-year high of $312.48. The company has a market cap of $25.42 billion, a PE ratio of 23.06 and a beta of 0.98. The stock has a 50 day moving average price of $261.26 and a 200 day moving average price of $282.71.
Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, October 25th. The company reported $4.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.32 by $0.09. The business earned $3.28 billion during the quarter, compared to analyst estimates of $3.29 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 97.87%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $3.97 EPS. Equities analysts forecast that Sherwin-Williams will post $12.34 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a dividend of $0.84 per share. The ex-dividend date is Wednesday, November 16th. This represents a $3.36 dividend on an annualized basis and a yield of 1.22%. Sherwin-Williams’s dividend payout ratio is 28.57%.
In other Sherwin-Williams news, Director John M. Stropki purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was purchased at an average cost of $247.30 per share, with a total value of $123,650.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.89% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SHW. Lone Pine Capital LLC acquired a new stake in Sherwin-Williams during the second quarter worth $335,861,000. Third Point LLC purchased a new stake in Sherwin-Williams during the second quarter valued at approximately $205,569,000. Ameriprise Financial Inc. boosted its stake in Sherwin-Williams by 50.1% in the second quarter. Ameriprise Financial Inc. now owns 1,768,167 shares of the company’s stock valued at $519,233,000 after buying an additional 590,350 shares during the period. Capital World Investors purchased a new stake in Sherwin-Williams during the second quarter valued at approximately $120,440,000. Finally, Principal Financial Group Inc. boosted its stake in Sherwin-Williams by 310.3% in the third quarter. Principal Financial Group Inc. now owns 521,827 shares of the company’s stock valued at $144,369,000 after buying an additional 394,638 shares during the period. 72.93% of the stock is owned by hedge funds and other institutional investors.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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