Sherwin-Williams (NYSE:SHW) Sets New 52-Week High at $379.57

The Sherwin-Williams Company (NYSE:SHW)’s share price reached a new 52-week high on Monday . The stock traded as high as $379.57 and last traded at $378.06, with a volume of 153628 shares traded. The stock had previously closed at $375.40.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SHW shares. Robert W. Baird boosted their target price on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. KeyCorp increased their price objective on Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $418.00 target price on shares of Sherwin-Williams in a research note on Friday, August 30th. Barclays raised their price target on shares of Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.68.

Sherwin-Williams Stock Performance

The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The business’s 50-day moving average is $349.91 and its 200-day moving average is $327.33. The company has a market capitalization of $95.15 billion, a PE ratio of 40.30, a PEG ratio of 2.94 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $3.29 earnings per share. On average, research analysts anticipate that The Sherwin-Williams Company will post 11.47 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.715 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.76%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Institutional Trading of Sherwin-Williams

Institutional investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. boosted its position in shares of Sherwin-Williams by 4.7% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 8,956 shares of the specialty chemicals company’s stock valued at $2,673,000 after buying an additional 403 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its stake in Sherwin-Williams by 3.3% during the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 4,339 shares of the specialty chemicals company’s stock valued at $1,295,000 after acquiring an additional 138 shares during the period. Cim LLC boosted its holdings in shares of Sherwin-Williams by 2.2% during the 2nd quarter. Cim LLC now owns 7,322 shares of the specialty chemicals company’s stock valued at $2,185,000 after acquiring an additional 158 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Sherwin-Williams in the second quarter worth approximately $11,335,000. Finally, Coronation Fund Managers Ltd. lifted its position in Sherwin-Williams by 17.7% during the second quarter. Coronation Fund Managers Ltd. now owns 6,936 shares of the specialty chemicals company’s stock valued at $2,070,000 after purchasing an additional 1,044 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

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.