Morgan Stanley Lowers Sherwin-Williams (NYSE:SHW) Price Target to $405.00

Sherwin-Williams (NYSE:SHW) had its price target reduced by research analysts at Morgan Stanley from $450.00 to $405.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s target price would suggest a potential upside of 12.37% from the stock’s current price.

Several other brokerages have also recently issued reports on SHW. Barclays boosted their price objective on Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Mizuho lowered their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird lifted their price target on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.65.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $360.43 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. Sherwin-Williams has a 52 week low of $282.09 and a 52 week high of $400.42. The business’s 50 day moving average price is $360.82 and its 200 day moving average price is $363.06. The firm has a market cap of $90.78 billion, a P/E ratio of 35.90, a P/E/G ratio of 2.78 and a beta of 1.22.

Insiders Place Their Bets

In other news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the transaction, the senior vice president now owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 directly owns 6,329 shares of the company’s stock, valued at $2,396,349.27. This represents a 28.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors and hedge funds have recently bought and sold shares of the company. Merit Financial Group LLC raised its holdings in Sherwin-Williams by 80.0% in the 4th quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock valued at $400,000 after buying an additional 523 shares during the period. Nations Financial Group Inc. IA ADV increased its position in shares of Sherwin-Williams by 13.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,818 shares of the specialty chemicals company’s stock valued at $694,000 after acquiring an additional 209 shares during the last quarter. Tamar Securities LLC raised its stake in shares of Sherwin-Williams by 3.4% in the 3rd quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after acquiring an additional 1,604 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Sherwin-Williams by 52.6% in the 4th quarter. Park Avenue Securities LLC now owns 6,680 shares of the specialty chemicals company’s stock worth $2,271,000 after acquiring an additional 2,303 shares during the last quarter. Finally, Burney Co. boosted its position in shares of Sherwin-Williams by 4.6% during the 4th quarter. Burney Co. now owns 17,272 shares of the specialty chemicals company’s stock worth $5,871,000 after purchasing an additional 766 shares during the period. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Company Profile

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.