Sherwin-Williams Company (The) (NYSE:SHW) issued its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.54 by $0.02, Bloomberg Earnings reports. Sherwin-Williams Company (The) had a return on equity of 63.81% and a net margin of 9.14%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the firm earned $4.06 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Sherwin-Williams Company (The) updated its Q3 guidance to $4.80-5.20 EPS and its FY17 guidance to $14.80-15.20 EPS.
Shares of Sherwin-Williams Company (NYSE SHW) traded down 0.93% during mid-day trading on Friday, hitting $342.38. 788,679 shares of the stock were exchanged. Sherwin-Williams Company has a 12-month low of $239.48 and a 12-month high of $362.57. The stock’s 50 day moving average price is $353.55 and its 200-day moving average price is $324.96. The stock has a market capitalization of $31.79 billion, a P/E ratio of 28.23 and a beta of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, August 16th. Sherwin-Williams Company (The)’s dividend payout ratio is presently 28.05%.
Several equities research analysts have recently commented on SHW shares. KeyCorp upgraded shares of Sherwin-Williams Company (The) from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research report on Tuesday, April 4th. Credit Suisse Group set a $344.00 price target on shares of Sherwin-Williams Company (The) and gave the stock a “buy” rating in a research report on Thursday, April 20th. Barclays PLC lifted their price target on shares of Sherwin-Williams Company (The) from $310.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of Sherwin-Williams Company (The) from a “hold” rating to a “buy” rating and set a $371.00 price target for the company in a research report on Thursday, April 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $375.00 price target (up previously from $335.00) on shares of Sherwin-Williams Company (The) in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $360.10.
In related news, insider Robert J. Davisson sold 10,500 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $335.00, for a total value of $3,517,500.00. Following the transaction, the insider now directly owns 7,166 shares in the company, valued at approximately $2,400,610. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Thomas P. Gilligan sold 6,350 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $338.70, for a total value of $2,150,745.00. Following the completion of the transaction, the senior vice president now owns 7,936 shares in the company, valued at $2,687,923.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,320 shares of company stock worth $8,181,290. 1.69% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of SHW. American Beacon Advisors Inc. bought a new position in shares of Sherwin-Williams Company (The) during the first quarter valued at $106,000. Barometer Capital Management Inc. bought a new position in shares of Sherwin-Williams Company (The) during the first quarter valued at $124,000. Financial Architects Inc boosted its position in shares of Sherwin-Williams Company (The) by 218.4% in the first quarter. Financial Architects Inc now owns 433 shares of the specialty chemicals company’s stock valued at $134,000 after buying an additional 297 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Sherwin-Williams Company (The) during the first quarter valued at $139,000. Finally, Parallel Advisors LLC boosted its position in shares of Sherwin-Williams Company (The) by 2.6% in the first quarter. Parallel Advisors LLC now owns 432 shares of the specialty chemicals company’s stock valued at $144,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 72.78% of the company’s stock.
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About Sherwin-Williams Company (The)
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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