Sherwin-Williams (NYSE:SHW) Hits New 1-Year High at $266.98

Posted by Defense World Staff on Jul 16th, 2023

The Sherwin-Williams Company (NYSE:SHW – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $266.98 and last traded at $266.47, with a volume of 56090 shares. The stock had previously closed at $266.30.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SHW. Barclays increased their target price on shares of Sherwin-Williams from $220.00 to $240.00 in a report on Thursday, April 27th. Citigroup assumed coverage on shares of Sherwin-Williams in a report on Tuesday, June 13th. They issued a “buy” rating and a $283.00 price objective on the stock. 58.com restated an “upgrade” rating on shares of Sherwin-Williams in a report on Monday, June 26th. BMO Capital Markets upgraded shares of Sherwin-Williams from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $269.00 to $275.00 in a report on Monday, June 26th. Finally, Jefferies Financial Group upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and raised their price objective for the company from $240.00 to $275.00 in a report on Wednesday, May 24th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and an average price target of $262.11.

Sherwin-Williams Price Performance

The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.57 and a current ratio of 1.00. The company has a market capitalization of $68.87 billion, a PE ratio of 32.77, a P/E/G ratio of 2.77 and a beta of 1.10. The company’s 50-day simple moving average is $243.53 and its 200-day simple moving average is $234.46.

Sherwin-Williams (NYSE:SHW – Get Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The specialty chemicals company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.20. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.14 billion. Sherwin-Williams had a net margin of 9.41% and a return on equity of 86.29%. Sherwin-Williams’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.61 EPS. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 8.72 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were issued a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 18th. Sherwin-Williams’s payout ratio is 29.69%.

Institutional Trading of Sherwin-Williams

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Sherwin-Williams by 17.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,960,923 shares of the specialty chemicals company’s stock valued at $2,364,025,000 after purchasing an additional 1,475,366 shares during the period. Morgan Stanley lifted its stake in shares of Sherwin-Williams by 50.9% in the fourth quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after purchasing an additional 1,747,586 shares during the period. Geode Capital Management LLC raised its position in Sherwin-Williams by 1.8% during the first quarter. Geode Capital Management LLC now owns 4,179,547 shares of the specialty chemicals company’s stock worth $936,902,000 after acquiring an additional 73,605 shares during the last quarter. Parnassus Investments LLC raised its position in Sherwin-Williams by 45.0% during the first quarter. Parnassus Investments LLC now owns 2,985,086 shares of the specialty chemicals company’s stock worth $670,958,000 after acquiring an additional 926,751 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Sherwin-Williams by 36.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,753,330 shares of the specialty chemicals company’s stock worth $653,448,000 after acquiring an additional 735,528 shares during the last quarter. Institutional investors and hedge funds own 75.76% of the company’s stock.

Sherwin-Williams Company Profile

(Get Free Report)

The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.