Equities research analysts at Wells Fargo & Co. began coverage on shares of Sherwin-Williams Co. (NYSE:SHW) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Several other research firms have also recently issued reports on SHW. Morgan Stanley restated an “overweight” rating and set a $322.00 price objective on shares of Sherwin-Williams in a research report on Wednesday, July 20th. Zacks Investment Research upgraded shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Seaport Global Securities cut 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 report on Monday, July 11th. RBC Capital Markets restated an “outperform” rating and set a $335.00 price objective on shares of Sherwin-Williams in a research report on Saturday, August 13th. Finally, Robert W. Baird restated an “outperform” rating and set a $330.00 price objective on shares of Sherwin-Williams in a research report on Monday, July 25th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Sherwin-Williams presently has a consensus rating of “Buy” and a consensus price target of $324.31.
Sherwin-Williams (NYSE:SHW) traded down 0.16% during midday trading on Wednesday, hitting $281.92. 658,686 shares of the stock traded hands. Sherwin-Williams has a 12-month low of $220.43 and a 12-month high of $312.48. The firm has a market cap of $25.88 billion, a P/E ratio of 23.77 and a beta of 0.87. The company’s 50-day moving average is $284.69 and its 200 day moving average is $291.11.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Thursday, July 21st. The company reported $4.06 EPS for the quarter, missing the Zacks’ consensus estimate of $4.16 by $0.10. The business earned $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. Sherwin-Williams’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $3.70 earnings per share. On average, analysts anticipate that Sherwin-Williams will post $12.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, August 17th. Sherwin-Williams’s payout ratio is 28.84%.
In related news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 119,804 shares of the company’s stock, valued at $35,791,445. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the completion of the sale, the insider now directly owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Nikko Asset Management Americas Inc. purchased a new stake in shares of Sherwin-Williams during the first quarter valued at $114,000. Monetary Management Group Inc. purchased a new stake in shares of Sherwin-Williams during the first quarter valued at $121,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Sherwin-Williams during the first quarter valued at $142,000. PineBridge Investments L.P. boosted its stake in shares of Sherwin-Williams by 109.7% in the second quarter. PineBridge Investments L.P. now owns 520 shares of the company’s stock valued at $153,000 after buying an additional 272 shares during the period. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Sherwin-Williams during the first quarter valued at $163,000. 74.62% of the stock is currently owned by hedge funds and other institutional investors.
Sherwin-Williams Company Profile
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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