Sherwin-Williams Co. (NYSE:SHW) was upgraded by Argus to a “buy” rating in a research note issued to investors on Monday.
A number of other analysts have also recently issued reports on SHW. Zacks Investment Research raised shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Wells Fargo & Co. began coverage on shares of Sherwin-Williams in a research note on Wednesday, September 28th. They issued a “market perform” rating for the company. Credit Agricole SA reissued a “buy” rating and issued a $350.00 price objective on shares of Sherwin-Williams in a research note on Wednesday, September 14th. RBC Capital Markets reissued an “outperform” rating and issued a $335.00 price objective on shares of Sherwin-Williams in a research note on Saturday, August 13th. Finally, Sterne Agee CRT raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $324.31.
Shares of Sherwin-Williams (NYSE:SHW) opened at 268.74 on Monday. The firm has a market cap of $24.67 billion, a price-to-earnings ratio of 22.66 and a beta of 0.92. The stock has a 50 day moving average price of $280.39 and a 200 day moving average price of $290.49. Sherwin-Williams has a one year low of $234.96 and a one year high of $312.48.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.16 by $0.10. The firm earned $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Sherwin-Williams had a return on equity of 110.16% and a net margin of 9.50%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $3.70 earnings per share. On average, equities research analysts forecast that Sherwin-Williams will post $12.64 EPS for the current year.
In other news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 119,804 shares in the company, valued at approximately $35,791,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was 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 owns 8,347 shares of the company’s stock, 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.
Several large investors have recently added to or reduced their stakes in the company. BB&T Securities LLC raised its stake in shares of Sherwin-Williams by 15.1% in the first quarter. BB&T Securities LLC now owns 5,979 shares of the company’s stock worth $1,701,000 after buying an additional 786 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Sherwin-Williams during the first quarter worth $6,216,000. Canada Pension Plan Investment Board raised its stake in shares of Sherwin-Williams by 23.5% in the first quarter. Canada Pension Plan Investment Board now owns 126,993 shares of the company’s stock worth $36,151,000 after buying an additional 24,196 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Sherwin-Williams by 6.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,458 shares of the company’s stock worth $984,000 after buying an additional 210 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its stake in shares of Sherwin-Williams by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 165,641 shares of the company’s stock worth $47,153,000 after buying an additional 10,830 shares during the last quarter. Hedge funds and other institutional investors own 74.62% of the company’s stock.
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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