Sherwin-Williams (NYSE:SHW) Price Target Lowered to $408.00 at Mizuho

Sherwin-Williams (NYSE:SHW) had its price target trimmed by Mizuho from $435.00 to $408.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on the company. Citigroup dropped their target price on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird raised their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $402.25.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW opened at $334.55 on Tuesday. The company has a market cap of $84.26 billion, a P/E ratio of 33.32, a PEG ratio of 2.94 and a beta of 1.22. Sherwin-Williams has a one year low of $282.09 and a one year high of $400.42. The business’s 50-day simple moving average is $368.81 and its 200 day simple moving average is $357.74. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.20 earnings per share. On average, sell-side analysts forecast that Sherwin-Williams will post 11.32 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $0.715 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.85%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.49%.

Insider Buying and Selling

In other news, SVP Mary L. Garceau sold 15,770 shares of Sherwin-Williams stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the transaction, the senior vice president now owns 29,205 shares of the company’s stock, valued at $11,621,253.60. The trade was a 35.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of SHW. Griffin Asset Management Inc. increased its stake in Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock worth $3,548,000 after purchasing an additional 26 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Sherwin-Williams by 2.4% in the third quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock worth $458,000 after buying an additional 28 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Sherwin-Williams by 47.5% in the third quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 28 shares in the last quarter. Allworth Financial LP lifted its position in shares of Sherwin-Williams by 1.8% in the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock valued at $595,000 after acquiring an additional 28 shares in the last quarter. Finally, First Interstate Bank lifted its position in shares of Sherwin-Williams by 1.9% in the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after acquiring an additional 28 shares in the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.

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.