Morgan Stanley Boosts Sherwin-Williams (NYSE:SHW) Price Target to $375.00

Sherwin-Williams (NYSE:SHW) had its target price increased by Morgan Stanley from $338.00 to $375.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

SHW has been the topic of a number of other research reports. StockNews.com downgraded shares of Sherwin-Williams from a buy rating to a hold rating in a report on Thursday, April 25th. Wells Fargo & Company raised their price objective on shares of Sherwin-Williams from $320.00 to $350.00 and gave the stock an equal weight rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Loop Capital dropped their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Finally, Mizuho dropped their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $355.00.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $349.22 on Wednesday. The company has a 50 day moving average price of $307.26 and a 200-day moving average price of $314.86. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $351.99. The firm has a market capitalization of $88.09 billion, a PE ratio of 37.23, a P/E/G ratio of 2.75 and a beta of 1.16. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the business posted $3.29 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts expect that Sherwin-Williams will post 11.44 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Institutional Trading of Sherwin-Williams

A number of large investors have recently made changes to their positions in SHW. AIA Group Ltd grew its holdings in Sherwin-Williams by 20.8% during the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock worth $5,088,000 after acquiring an additional 2,810 shares in the last quarter. Simplicity Solutions LLC grew its holdings in Sherwin-Williams by 182.2% during the 4th quarter. Simplicity Solutions LLC now owns 10,700 shares of the specialty chemicals company’s stock worth $3,337,000 after acquiring an additional 6,909 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Sherwin-Williams by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock worth $77,510,000 after acquiring an additional 13,984 shares in the last quarter. Waterloo Capital L.P. bought a new position in Sherwin-Williams during the 4th quarter worth about $360,000. Finally, Trust Point Inc. bought a new position in Sherwin-Williams during the 4th quarter worth about $403,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Company Profile

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.