Citigroup Downgrades Sherwin-Williams (NYSE:SHW) to Neutral

Citigroup cut shares of Sherwin-Williams (NYSE:SHW - Free Report) from a buy rating to a neutral rating in a research report report published on Friday, MarketBeat.com reports. They currently have $385.00 price target on the specialty chemicals company's stock, down from their previous price target of $405.00.

Other equities analysts have also issued research reports about the company. Mizuho set a $395.00 price target on Sherwin-Williams in a research note on Tuesday, April 15th. Jefferies Financial Group restated a "hold" rating and set a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Royal Bank of Canada lifted their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group cut their price objective on shares of Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Barclays cut their price target on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $397.67.

Sherwin-Williams Price Performance

Shares of NYSE:SHW traded down $0.25 during midday trading on Friday, reaching $335.63. The company's stock had a trading volume of 1,700,271 shares, compared to its average volume of 1,725,877. The business's fifty day simple moving average is $348.16 and its 200-day simple moving average is $351.34. The company has a market capitalization of $84.11 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.98 and a beta of 1.21. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. Sherwin-Williams has a fifty-two week low of $292.27 and a fifty-two week high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the business earned $2.17 earnings per share. Sherwin-Williams's quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that Sherwin-Williams will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a dividend of $0.79 per share. The ex-dividend date was Friday, May 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.94%. Sherwin-Williams's payout ratio is 29.87%.

Institutional Trading of Sherwin-Williams

Hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Capital Wealth Partners LLC increased its holdings in shares of Sherwin-Williams by 2.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 1,028 shares of the specialty chemicals company's stock worth $350,000 after purchasing an additional 29 shares in the last quarter. IMS Capital Management boosted its position in shares of Sherwin-Williams by 2.4% during the fourth quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company's stock valued at $437,000 after buying an additional 30 shares during the last quarter. Coppell Advisory Solutions LLC increased its holdings in Sherwin-Williams by 2.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company's stock worth $388,000 after buying an additional 30 shares in the last quarter. Opal Wealth Advisors LLC lifted its stake in Sherwin-Williams by 4.2% during the 1st quarter. Opal Wealth Advisors LLC now owns 791 shares of the specialty chemicals company's stock valued at $276,000 after acquiring an additional 32 shares during the period. Finally, Nicolet Advisory Services LLC boosted its holdings in shares of Sherwin-Williams by 3.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,096 shares of the specialty chemicals company's stock valued at $362,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

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.