Raymond James Financial assumed coverage on shares of Sherwin-Williams (NYSE:SHW) in a report issued on Tuesday, December 19th, MarketBeat Ratings reports. The firm issued a strong-buy rating and a $496.00 price target on the specialty chemicals company’s stock.
A number of other research analysts have also issued reports on SHW. BidaskClub upgraded Sherwin-Williams from a strong sell rating to a sell rating in a research report on Wednesday, August 23rd. Robert W. Baird reiterated a buy rating and set a $375.00 price target on shares of Sherwin-Williams in a research report on Friday, September 1st. KeyCorp restated a buy rating and issued a $415.00 price objective on shares of Sherwin-Williams in a report on Sunday, September 3rd. Royal Bank of Canada restated a buy rating on shares of Sherwin-Williams in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded Sherwin-Williams from a hold rating to a buy rating and set a $380.00 price objective for the company in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Sherwin-Williams has an average rating of Buy and a consensus target price of $417.39.
Shares of Sherwin-Williams (SHW) traded up $7.48 during mid-day trading on Tuesday, reaching $432.84. The company’s stock had a trading volume of 1,020,713 shares, compared to its average volume of 491,122. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 3.68. Sherwin-Williams has a one year low of $280.14 and a one year high of $433.90. The firm has a market cap of $40,480.00, a price-to-earnings ratio of 36.68, a PEG ratio of 1.95 and a beta of 1.22.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $4.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.70 by $0.05. Sherwin-Williams had a return on equity of 58.02% and a net margin of 7.82%. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the previous year, the firm posted $4.23 EPS. The firm’s quarterly revenue was up 37.4% on a year-over-year basis. analysts predict that Sherwin-Williams will post 15.02 EPS for the current year.
In other news, insider Joel D. Baxter sold 2,376 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $389.26, for a total transaction of $924,881.76. Following the sale, the insider now directly owns 3,302 shares of the company’s stock, valued at $1,285,336.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert J. Davisson sold 1,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $407.11, for a total value of $407,110.00. The disclosure for this sale can be found here. Insiders have sold 15,122 shares of company stock worth $5,969,846 over the last ninety days. 1.69% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Beach Investment Management LLC. acquired a new position in Sherwin-Williams during the second quarter valued at $2,253,000. First Trust Advisors LP raised its position in Sherwin-Williams by 84.7% during the second quarter. First Trust Advisors LP now owns 42,314 shares of the specialty chemicals company’s stock valued at $14,851,000 after buying an additional 19,402 shares during the period. BT Investment Management Ltd acquired a new position in Sherwin-Williams during the second quarter valued at $641,000. Alps Advisors Inc. raised its position in Sherwin-Williams by 0.3% during the second quarter. Alps Advisors Inc. now owns 1,544 shares of the specialty chemicals company’s stock valued at $542,000 after buying an additional 4 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Sherwin-Williams by 2.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 116,950 shares of the specialty chemicals company’s stock valued at $41,045,000 after buying an additional 3,218 shares during the period. 75.60% of the stock is currently owned by institutional investors.
Sherwin-Williams Company Profile
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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