Sherwin-Williams Co. (SHW) Hits New 52-Week High at $309.19
Sherwin-Williams Co. (NYSE:SHW) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $309.19 and last traded at $308.87, with a volume of 297,088 shares trading hands. The stock had previously closed at $306.52.
A number of research analysts have weighed in on SHW shares. Royal Bank Of Canada increased their price target on Sherwin-Williams from $337.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Zacks Investment Research lowered Sherwin-Williams from a “hold” rating to a “sell” rating in a research note on Tuesday, April 5th. Longbow Research raised Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $340.00 price target on the stock in a research note on Wednesday, March 16th. Susquehanna raised Sherwin-Williams from a “neutral” rating to a “positive” rating and increased their price target for the stock from $260.00 to $370.00 in a research note on Monday, March 21st. Finally, Morgan Stanley reissued a “buy” rating on shares of Sherwin-Williams in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Sherwin-Williams currently has a consensus rating of “Buy” and an average price target of $312.82.
The company has a market capitalization of $28.10 billion and a PE ratio of 26.99. The stock’s 50 day moving average is $291.86 and its 200 day moving average is $277.82.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, April 21st. The company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.19. During the same quarter last year, the firm posted $1.38 EPS. The business earned $2.57 billion during the quarter, compared to analyst estimates of $2.48 billion. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Sherwin-Williams Co. will post $12.67 earnings per share for the current year.
In other Sherwin-Williams news, SVP Allen J. Mistysyn sold 3,353 shares of Sherwin-Williams 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 transaction, the senior vice president now directly owns 10,881 shares in the company, valued at approximately $3,172,681.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sean P. Hennessy sold 20,353 shares of Sherwin-Williams stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $294.88, for a total transaction of $6,001,692.64. Following the transaction, the chief financial officer now owns 92,747 shares in the company, valued at $27,349,235.36. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Sherwin-Williams by 170.0% in the fourth quarter. Wells Fargo & Company MN now owns 854,238 shares of the company’s stock valued at $221,760,000 after buying an additional 537,797 shares during the last quarter. Janus Capital Management raised its stake in shares of Sherwin-Williams by 48.8% in the third quarter. Janus Capital Management now owns 778,376 shares of the company’s stock worth $173,407,000 after buying an additional 255,380 shares during the period. Alta Capital Management LLC bought a new stake in shares of Sherwin-Williams during the fourth quarter worth about $33,588,000. Greenleaf Trust raised its stake in shares of Sherwin-Williams by 4,757.3% in the fourth quarter. Greenleaf Trust now owns 48,573 shares of the company’s stock worth $12,610,000 after buying an additional 47,573 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Sherwin-Williams by 20.4% in the fourth quarter. OppenheimerFunds Inc. now owns 275,534 shares of the company’s stock worth $71,535,000 after buying an additional 46,730 shares during the period.
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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