Trade Report: Today, Sherwin-Williams Co. (SHW) Upgraded to “Buy” at Evercore ISI

Today, Sherwin-Williams Co. (SHW) Upgraded to “Buy” at Evercore ISI

Sherwin-Williams Co. (NYSE:SHW) was upgraded by stock analysts at Evercore ISI from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The analysts noted that the move was a valuation call.

SHW has been the topic of a number of other research reports. reaffirmed a “buy” rating and set a $350.00 price objective on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Zacks Investment Research raised Sherwin-Williams from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Seaport Global Securities downgraded Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 price objective on the stock. in a research report on Monday, July 11th. Argus raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, October 10th. Finally, Sterne Agee CRT raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $322.56.

Sherwin-Williams (NYSE:SHW) traded up 0.94% during midday trading on Tuesday, hitting $274.97. 377,205 shares of the stock traded hands. Sherwin-Williams has a 12 month low of $234.96 and a 12 month high of $312.48. The stock has a market cap of $25.30 billion, a PE ratio of 22.94 and a beta of 0.98. The company has a 50-day moving average of $261.11 and a 200-day moving average of $283.04.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $4.23 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by $0.09. Sherwin-Williams had a net margin of 9.50% and a return on equity of 97.87%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the previous year, the business earned $3.97 EPS. Sherwin-Williams’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sherwin-Williams will post $12.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, November 16th. Sherwin-Williams’s dividend payout ratio is currently 28.57%.

In related news, Director John M. Stropki purchased 500 shares of Sherwin-Williams stock in a transaction that occurred on Thursday, October 27th. The stock was bought at an average cost of $247.30 per share, for a total transaction of $123,650.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.89% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SHW. Vanguard Group Inc. raised its stake in shares of Sherwin-Williams by 1.7% in the second quarter. Vanguard Group Inc. now owns 5,615,932 shares of the company’s stock valued at $1,649,230,000 after buying an additional 92,058 shares during the last quarter. FMR LLC raised its stake in shares of Sherwin-Williams by 0.9% in the second quarter. FMR LLC now owns 4,727,416 shares of the company’s stock valued at $1,388,300,000 after buying an additional 44,207 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Sherwin-Williams by 12.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,650,607 shares of the company’s stock valued at $778,404,000 after buying an additional 296,200 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Sherwin-Williams by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 2,591,506 shares of the company’s stock valued at $717,960,000 after buying an additional 67,795 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Sherwin-Williams by 10.0% in the third quarter. Ameriprise Financial Inc. now owns 1,944,619 shares of the company’s stock valued at $537,993,000 after buying an additional 176,452 shares during the last quarter. Institutional investors own 74.97% of the company’s stock.

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