The Sherwin-Williams Company (NYSE:SHW) Stock Has Average Target Price of $382.08

Shares of The Sherwin-Williams Company (NYSE:SHW) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are currently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $381.17.

A number of research firms have recently commented on SHW. Morgan Stanley reaffirmed an “overweight” rating and issued a $395.00 price target (up from $385.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Sherwin-Williams from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Sherwin-Williams in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Sherwin-Williams from $355.00 to $375.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on Sherwin-Williams from $365.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Karl Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the sale, the insider owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total value of $4,761,450.00. Following the completion of the transaction, the insider owned 21,937 shares of the company’s stock, valued at approximately $7,737,179.90. The trade was a 38.10% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by insiders.

Institutional Trading of Sherwin-Williams

A number of hedge funds have recently modified their holdings of SHW. Motley Fool Asset Management LLC boosted its position in shares of Sherwin-Williams by 6.9% in the 3rd quarter. Motley Fool Asset Management LLC now owns 20,059 shares of the specialty chemicals company’s stock worth $6,484,000 after purchasing an additional 1,292 shares in the last quarter. North Dakota State Investment Board increased its position in Sherwin-Williams by 2.9% during the 3rd quarter. North Dakota State Investment Board now owns 7,057 shares of the specialty chemicals company’s stock valued at $2,281,000 after buying an additional 196 shares in the last quarter. BLB&B Advisors LLC raised its stake in Sherwin-Williams by 8.1% during the third quarter. BLB&B Advisors LLC now owns 1,267 shares of the specialty chemicals company’s stock valued at $410,000 after buying an additional 95 shares during the last quarter. Generali Asset Management SPA SGR raised its stake in Sherwin-Williams by 20.9% during the third quarter. Generali Asset Management SPA SGR now owns 17,558 shares of the specialty chemicals company’s stock valued at $5,676,000 after buying an additional 3,036 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in Sherwin-Williams by 4.0% in the third quarter. Independence Bank of Kentucky now owns 1,705 shares of the specialty chemicals company’s stock worth $551,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Price Performance

SHW opened at $326.01 on Wednesday. Sherwin-Williams has a fifty-two week low of $289.86 and a fifty-two week high of $377.77. The company’s 50-day moving average is $330.66 and its 200 day moving average is $333.48.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, October 27th. The specialty chemicals company reported $3.63 earnings per share for the quarter, missing analysts’ consensus estimates of $3.69 by ($0.06). The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.78 billion. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.59 EPS. On average, equities research analysts anticipate that Sherwin-Williams will post 12.07 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th.

Key Headlines Impacting Sherwin-Williams

Here are the key news stories impacting Sherwin-Williams this week:

• Positive Sentiment: Third-quarter revenue increased 7.9% year over year to $6.86 billion, exceeding the roughly $6.78 billion consensus estimate. Sherwin-Williams third-quarter financial results
• Positive Sentiment: Management highlighted resilient demand and continued growth across the business during the earnings call, supporting the longer-term investment case. Sherwin-Williams earnings call highlights
• Positive Sentiment: Evercore ISI upgraded Sherwin-Williams to Outperform ahead of the report, indicating some analysts see valuation or longer-term earnings potential as attractive. Evercore ISI upgrade

About Sherwin-Williams

The Sherwin-Williams Company (NYSE: SHW) develops, manufactures, distributes and sells paints, coatings and related products. Its offerings include architectural paints, industrial coatings, wood finishes, protective coatings, automotive refinishing products, floor coatings and related supplies marketed under brands such as Sherwin-Williams, Valspar, Minwax, Krylon and Dutch Boy.

Founded in 1866 and headquartered in Cleveland, Ohio, Sherwin-Williams serves professional contractors, do-it-yourself consumers, industrial manufacturers, commercial businesses and other customers.