Sherwin-Williams Co. (SHW) Shares Up 1.2%
Sherwin-Williams Co. (NYSE:SHW) shares shot up 1.2% during trading on Tuesday . The company traded as high as $301.47 and last traded at $301.07, with a volume of 253,084 shares trading hands. The stock had previously closed at $297.36.
A number of research firms have recently commented on SHW. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price objective on shares of Sherwin-Williams in a research note on Wednesday, July 20th. Zacks Investment Research raised shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Seaport Global Securities downgraded shares of Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 price objective for the company. in a research note on Monday, July 11th. Royal Bank Of Canada upped their price objective on shares of Sherwin-Williams from $337.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $330.00 price objective on shares of Sherwin-Williams in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $318.58.
The stock has a 50 day moving average of $296.12 and a 200-day moving average of $283.36. The company has a market cap of $27.70 billion and a price-to-earnings ratio of 25.44.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.16 by $0.10. The company earned $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 earnings per share. Equities research analysts expect that Sherwin-Williams Co. will post $12.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 19th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $3.36 annualized dividend and a yield of 1.11%.
In related news, CFO Sean P. Hennessy sold 20,353 shares of the stock in a transaction on Friday, May 13th. The stock was sold at an average price of $294.88, for a total value of $6,001,692.64. Following the completion of the transaction, the chief financial officer now owns 92,747 shares in the company, valued at approximately $27,349,235.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John G. Morikis sold 30,353 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the completion of the transaction, the chief executive officer now owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The disclosure for this sale can be found here.
Several institutional investors recently added to or reduced their stakes in SHW. Mutual of America Capital Management LLC raised its position in Sherwin-Williams by 0.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 8,826 shares of the company’s stock worth $2,291,000 after buying an additional 24 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Sherwin-Williams by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,170 shares of the company’s stock worth $1,342,000 after buying an additional 80 shares during the period. Utah Retirement Systems raised its position in Sherwin-Williams by 0.7% in the fourth quarter. Utah Retirement Systems now owns 14,630 shares of the company’s stock worth $3,798,000 after buying an additional 100 shares during the period. Advantus Capital Management Inc raised its position in Sherwin-Williams by 4.2% in the fourth quarter. Advantus Capital Management Inc now owns 7,791 shares of the company’s stock worth $2,023,000 after buying an additional 311 shares during the period. Finally, Suntrust Banks Inc. raised its position in Sherwin-Williams by 2.1% in the fourth quarter. Suntrust Banks Inc. now owns 18,222 shares of the company’s stock worth $4,729,000 after buying an additional 377 shares during the period.
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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