Atlantic Securities Initiates Coverage on Sherwin-Williams Co. (SHW)
Equities research analysts at Atlantic Securities began coverage on shares of Sherwin-Williams Co. (NYSE:SHW) in a research report issued on Tuesday. The firm set an “overweight” rating and a $325.00 price target on the stock. Atlantic Securities’ target price would indicate a potential upside of 20.97% from the company’s previous close.
SHW has been the topic of several other research reports. reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Zacks Investment Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price objective on the stock in a research report on Monday, September 26th. Argus raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, October 10th. Sterne Agee CRT raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Finally, Evercore ISI raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Sherwin-Williams presently has a consensus rating of “Buy” and an average target price of $323.28.
Shares of Sherwin-Williams (NYSE:SHW) opened at 268.67 on Tuesday. Sherwin-Williams has a one year low of $234.96 and a one year high of $312.48. The company has a market cap of $24.72 billion, a P/E ratio of 22.42 and a beta of 0.98. The stock’s 50 day moving average is $261.26 and its 200-day moving average is $282.71.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $4.23 EPS for the quarter, missing the consensus estimate of $4.32 by $0.09. The company earned $3.28 billion during the quarter, compared to the consensus estimate of $3.29 billion. Sherwin-Williams had a return on equity of 97.87% and a net margin of 9.50%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.97 EPS. Equities research analysts forecast that Sherwin-Williams will post $12.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a dividend of $0.84 per share. The ex-dividend date is Wednesday, November 16th. This represents a $3.36 annualized dividend and a yield of 1.25%. Sherwin-Williams’s payout ratio is presently 28.57%.
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In related news, Director John M. Stropki bought 500 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was acquired at an average cost of $247.30 per share, for a total transaction of $123,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.89% of the company’s stock.
Large investors have recently made changes to their positions in the stock. NEXT Financial Group Inc raised its stake in shares of Sherwin-Williams by 1,536.0% in the third quarter. NEXT Financial Group Inc now owns 409 shares of the company’s stock valued at $113,000 after buying an additional 384 shares during the last quarter. TLP Group LLC bought a new stake in shares of Sherwin-Williams during the third quarter valued at about $120,000. Carroll Financial Associates Inc. raised its stake in shares of Sherwin-Williams by 2.9% in the third quarter. Carroll Financial Associates Inc. now owns 465 shares of the company’s stock valued at $128,000 after buying an additional 13 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Sherwin-Williams during the third quarter valued at about $138,000. Finally, PineBridge Investments L.P. raised its stake in shares of Sherwin-Williams by 109.7% in the second quarter. PineBridge Investments L.P. now owns 520 shares of the company’s stock valued at $153,000 after buying an additional 272 shares during the last quarter. Institutional investors and hedge funds own 72.93% 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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