Sherwin-Williams (NYSE:SHW) Hits New 12-Month High – Still a Buy?

The Sherwin-Williams Company (NYSE:SHW) reached a new 52-week high during trading on Monday . The company traded as high as $394.18 and last traded at $393.65, with a volume of 52938 shares trading hands. The stock had previously closed at $388.30.

Analyst Upgrades and Downgrades

SHW has been the topic of a number of analyst reports. Morgan Stanley upped their price target on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price target on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Royal Bank of Canada reduced their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.47.

Sherwin-Williams Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.97. The business has a fifty day simple moving average of $377.90 and a 200 day simple moving average of $345.63. The stock has a market capitalization of $99.77 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.20 earnings per share. On average, analysts expect that The Sherwin-Williams Company will post 11.32 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is presently 28.49%.

Insider Activity

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This represents a 18.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. This trade represents a 28.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in Sherwin-Williams by 10.7% during the third quarter. Tidal Investments LLC now owns 16,153 shares of the specialty chemicals company’s stock valued at $6,165,000 after purchasing an additional 1,567 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Sherwin-Williams by 2,092.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,747 shares of the specialty chemicals company’s stock valued at $6,392,000 after purchasing an additional 15,983 shares during the period. Arvest Bank Trust Division purchased a new stake in shares of Sherwin-Williams during the third quarter worth $350,000. Sanctuary Advisors LLC lifted its position in shares of Sherwin-Williams by 17.1% during the third quarter. Sanctuary Advisors LLC now owns 43,295 shares of the specialty chemicals company’s stock worth $16,812,000 after acquiring an additional 6,308 shares in the last quarter. Finally, Eaton Financial Holdings Company LLC purchased a new stake in shares of Sherwin-Williams during the third quarter worth $608,000. 77.67% of the stock is owned by institutional investors.

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.