Citigroup Cuts Sherwin-Williams (NYSE:SHW) Price Target to $375.00

Sherwin-Williams (NYSE:SHW - Free Report) had its price objective reduced by Citigroup from $423.00 to $375.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company's stock.

Several other equities analysts have also issued reports on SHW. Morgan Stanley dropped their price objective on Sherwin-Williams from $450.00 to $405.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Berenberg Bank raised Sherwin-Williams from a "hold" rating to a "buy" rating and lifted their price target for the stock from $321.00 to $420.00 in a research report on Friday, January 24th. Wells Fargo & Company reduced their price objective on Sherwin-Williams from $400.00 to $380.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. UBS Group lowered their target price on shares of Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $393.31.

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Sherwin-Williams Stock Up 2.2 %

Sherwin-Williams stock traded up $7.20 during midday trading on Tuesday, reaching $337.11. The company's stock had a trading volume of 2,032,653 shares, compared to its average volume of 1,783,917. The business has a 50-day simple moving average of $347.47 and a 200-day simple moving average of $360.37. The company has a market cap of $84.79 billion, a P/E ratio of 31.95, a P/E/G ratio of 2.98 and a beta of 1.26. Sherwin-Williams has a fifty-two week low of $282.09 and a fifty-two week high of $400.42. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $1.81 earnings per share. On average, research analysts expect that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.94%. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.72. Sherwin-Williams's dividend payout ratio (DPR) is 29.95%.

Insider Transactions at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the business's stock in a transaction dated 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 owns 5,365 shares of the company's stock, valued at approximately $1,933,009.50. The trade was a 34.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Sherwin-Williams

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Sherwin-Williams by 1.0% in the third quarter. Principal Financial Group Inc. now owns 1,047,174 shares of the specialty chemicals company's stock valued at $399,675,000 after purchasing an additional 10,709 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Sherwin-Williams by 8.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,266 shares of the specialty chemicals company's stock worth $865,000 after buying an additional 177 shares in the last quarter. Zacks Investment Management acquired a new stake in Sherwin-Williams in the 3rd quarter valued at about $214,000. Executive Wealth Management LLC purchased a new position in Sherwin-Williams during the 3rd quarter valued at about $418,000. Finally, Prestige Wealth Management Group LLC raised its position in Sherwin-Williams by 4.1% during the third quarter. Prestige Wealth Management Group LLC now owns 992 shares of the specialty chemicals company's stock worth $379,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors 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.