The Sherwin-Williams Company (NYSE:SHW) – Northcoast Research upped their Q2 2021 earnings estimates for The Sherwin-Williams in a research report issued to clients and investors on Wednesday, June 9th. Northcoast Research analyst K. Hocevar now expects that the specialty chemicals company will post earnings of $2.66 per share for the quarter, up from their prior estimate of $2.58.
Other research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of The Sherwin-Williams from $275.00 to $315.00 and gave the company an “overweight” rating in a research note on Monday, May 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of The Sherwin-Williams from $278.67 to $283.00 and gave the company a “buy” rating in a research note on Tuesday, March 23rd. Loop Capital lifted their price objective on shares of The Sherwin-Williams from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of The Sherwin-Williams from a “hold” rating to a “buy” rating and set a $297.00 price objective on the stock in a research note on Friday, June 4th. Finally, KeyCorp lifted their price objective on shares of The Sherwin-Williams from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The Sherwin-Williams currently has an average rating of “Buy” and an average price target of $325.91.
The Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Monday, April 26th. The specialty chemicals company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The Sherwin-Williams had a net margin of 11.23% and a return on equity of 66.09%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the business earned $4.08 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of The Sherwin-Williams by 3.3% in the first quarter. BlackRock Inc. now owns 6,119,323 shares of the specialty chemicals company’s stock worth $4,516,118,000 after purchasing an additional 197,789 shares during the last quarter. FMR LLC lifted its holdings in The Sherwin-Williams by 2.1% in the fourth quarter. FMR LLC now owns 3,794,983 shares of the specialty chemicals company’s stock valued at $2,788,971,000 after buying an additional 78,444 shares during the period. Geode Capital Management LLC lifted its holdings in The Sherwin-Williams by 202.1% in the first quarter. Geode Capital Management LLC now owns 3,459,174 shares of the specialty chemicals company’s stock valued at $851,449,000 after buying an additional 2,314,238 shares during the period. Fiera Capital Corp lifted its holdings in The Sherwin-Williams by 0.8% in the fourth quarter. Fiera Capital Corp now owns 1,681,312 shares of the specialty chemicals company’s stock valued at $1,235,613,000 after buying an additional 13,915 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in The Sherwin-Williams by 12.2% in the first quarter. Janus Henderson Group PLC now owns 1,414,941 shares of the specialty chemicals company’s stock valued at $1,044,303,000 after buying an additional 153,779 shares during the period. 27.48% of the stock is currently owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 21st were paid a $0.55 dividend. The ex-dividend date was Thursday, May 20th. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. The Sherwin-Williams’s dividend payout ratio is 26.86%.
The Sherwin-Williams declared that its board has initiated a stock repurchase plan on Wednesday, February 17th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
About The Sherwin-Williams
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in 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.
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