Sherwin-Williams (NYSE:SHW) Given New $355.00 Price Target at Barclays

Sherwin-Williams (NYSE:SHW) had its target price decreased by Barclays from $385.00 to $355.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Several other research firms have also recently commented on SHW. Citigroup reaffirmed a “buy” rating and issued a $423.00 price target (up previously from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho reduced their price target on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group reissued a “hold” rating and issued a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Finally, Morgan Stanley cut their price objective on shares of Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $400.19.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock opened at $350.77 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The business has a 50 day simple moving average of $353.29 and a two-hundred day simple moving average of $363.46. The stock has a market capitalization of $88.22 billion, a P/E ratio of 33.25, a PEG ratio of 2.98 and a beta of 1.23. Sherwin-Williams has a 12 month low of $282.09 and a 12 month high of $400.42.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period in the prior year, the company posted $1.81 earnings per share. As a group, analysts predict that Sherwin-Williams will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Monday, March 3rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s payout ratio is currently 29.95%.

Insider Buying and Selling

In related news, insider Colin M. Davie sold 2,799 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at $1,933,009.50. This represents a 34.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sherwin-Williams

Several institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Sherwin-Williams in the fourth quarter valued at $1,359,747,000. Capital Research Global Investors raised its position in Sherwin-Williams by 47.1% in the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company’s stock valued at $1,019,329,000 after purchasing an additional 960,724 shares in the last quarter. Barclays PLC raised its position in Sherwin-Williams by 54.2% in the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company’s stock valued at $704,855,000 after purchasing an additional 728,798 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $230,829,000. Finally, Northern Trust Corp grew its position in shares of Sherwin-Williams by 28.0% during the fourth quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company’s stock worth $926,590,000 after buying an additional 595,586 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

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.