Sherwin-Williams Co. (SHW) Shares Gap Up to $302.10
Sherwin-Williams Co. (NYSE:SHW)’s share price gapped up before the market opened on Friday . The stock had previously closed at $301.63, but opened at $302.10. Sherwin-Williams shares last traded at $307.32, with a volume of 303,432 shares traded.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Sherwin-Williams from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Morgan Stanley reissued a “buy” rating on shares of Sherwin-Williams in a research report on Thursday, June 16th. Royal Bank Of Canada increased their price objective on shares of Sherwin-Williams from $337.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, April 22nd. Finally, Argus assumed coverage on shares of Sherwin-Williams in a research report on Wednesday, April 6th. They set a “hold” rating and a $293.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $310.55.
The company’s 50 day moving average is $291.86 and its 200-day moving average is $277.82. The stock has a market capitalization of $28.04 billion and a PE ratio of 26.94.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Thursday, April 21st. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.19. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Sherwin-Williams Co. will post $12.67 earnings per share for the current year.
In other news, SVP Allen J. Mistysyn sold 3,353 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $291.58, for a total transaction of $977,667.74. Following the completion of the transaction, the senior vice president now directly owns 10,881 shares of the company’s stock, valued at $3,172,681.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David F. Hodnik sold 843 shares of the business’s stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $297.51, for a total transaction of $250,800.93. Following the transaction, the director now directly owns 11,895 shares of the company’s stock, valued at $3,538,881.45. The disclosure for this sale can be found here.
A number of hedge funds have made changes to their positions in the stock. Advance Capital I Inc. boosted its stake in shares of Sherwin-Williams by 11.4% in the fourth quarter. Advance Capital I Inc. now owns 4,900 shares of the company’s stock worth $1,272,000 after buying an additional 500 shares in the last quarter. Investors Capital Advisory Services boosted its stake in shares of Sherwin-Williams by 11.0% in the fourth quarter. Investors Capital Advisory Services now owns 4,911 shares of the company’s stock worth $1,274,000 after buying an additional 485 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Sherwin-Williams by 102.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,943 shares of the company’s stock worth $1,283,000 after buying an additional 2,496 shares in the last quarter. Spectrum Management Group Inc. boosted its stake in shares of Sherwin-Williams by 17.7% in the fourth quarter. Spectrum Management Group Inc. now owns 5,055 shares of the company’s stock worth $1,312,000 after buying an additional 760 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Sherwin-Williams by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,170 shares of the company’s stock worth $1,342,000 after buying an additional 80 shares in the last quarter.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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