Royal Bank of Canada Reaffirms Purchase Rating for Sherwin-Williams Co (SHW)

Royal Bank of Canada Reaffirms Purchase Rating for Sherwin-Williams Co (SHW)

Sherwin-Williams Co (NYSE:SHW)‘s stock had its “buy” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued on Tuesday. They presently have a $350.00 price objective on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.56% from the stock’s previous close.

Several other research firms have also commented on SHW. Zacks Investment Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $346.00 price target on the stock in a research report on Thursday, March 2nd. Vetr lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $313.74 price target on the stock. in a research report on Thursday, January 26th. Credit Suisse Group AG set a $325.00 price target on shares of Sherwin-Williams and gave the company a “buy” rating in a research report on Friday, January 27th. Finally, Morgan Stanley set a $335.00 price target on shares of Sherwin-Williams and gave the company a “buy” rating in a research report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $329.57.

Shares of Sherwin-Williams (NYSE:SHW) traded up 0.48% during mid-day trading on Tuesday, reaching $310.94. The company’s stock had a trading volume of 327,763 shares. The firm’s 50 day moving average price is $310.45 and its 200-day moving average price is $282.30. The company has a market capitalization of $28.77 billion, a price-to-earnings ratio of 25.93 and a beta of 1.00. Sherwin-Williams has a 1-year low of $239.48 and a 1-year high of $316.66.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 26th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.21 by $0.13. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.69 billion. Sherwin-Williams had a net margin of 9.40% and a return on equity of 82.20%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 earnings per share. On average, analysts predict that Sherwin-Williams will post $13.78 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Monday, February 27th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, February 23rd. This represents a $3.40 dividend on an annualized basis and a yield of 1.09%. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.84. Sherwin-Williams’s dividend payout ratio (DPR) is 28.50%.

In related news, insider Robert J. Davisson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $306.69, for a total transaction of $1,533,450.00. Following the sale, the insider now owns 13,650 shares in the company, valued at $4,186,318.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Wells sold 4,353 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $311.21, for a total transaction of $1,354,697.13. Following the sale, the senior vice president now owns 23,158 shares in the company, valued at approximately $7,207,001.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,788 shares of company stock worth $39,898,020. 1.89% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in SHW. Bright Rock Capital Management LLC raised its stake in shares of Sherwin-Williams by 3.8% in the third quarter. Bright Rock Capital Management LLC now owns 23,100 shares of the company’s stock worth $6,391,000 after buying an additional 850 shares during the period. Wells Fargo & Company MN increased its position in Sherwin-Williams by 2.6% in the third quarter. Wells Fargo & Company MN now owns 741,186 shares of the company’s stock worth $205,057,000 after buying an additional 18,544 shares in the last quarter. Morgan Stanley increased its position in Sherwin-Williams by 11.7% in the third quarter. Morgan Stanley now owns 699,453 shares of the company’s stock worth $193,510,000 after buying an additional 73,113 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in Sherwin-Williams by 1.9% in the third quarter. Penobscot Investment Management Company Inc. now owns 12,629 shares of the company’s stock worth $3,494,000 after buying an additional 230 shares in the last quarter. Finally, Third Point LLC increased its position in Sherwin-Williams by 25.0% in the third quarter. Third Point LLC now owns 875,000 shares of the company’s stock worth $242,078,000 after buying an additional 175,000 shares in the last quarter. Hedge funds and other institutional investors own 72.94% of the company’s stock.

About Sherwin-Williams

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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