Sherwin-Williams Co. (SHW) Reaches New 12-Month High at $309.19
Shares of Sherwin-Williams Co. (NYSE:SHW) reached a new 52-week high during trading on Monday . The stock traded as high as $309.19 and last traded at $308.87, with a volume of 297,088 shares changing hands. The stock had previously closed at $306.52.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research report on Tuesday. Seaport Global Securities lowered shares of Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 target price on the stock. in a research report on Monday. Royal Bank Of Canada raised their target price 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. Morgan Stanley restated a “buy” rating on shares of Sherwin-Williams in a research report on Wednesday, June 8th. Finally, Susquehanna upgraded shares of Sherwin-Williams from a “neutral” rating to a “positive” rating and raised their target price for the stock from $260.00 to $370.00 in a research report on Monday, March 21st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $312.82.
The company’s 50-day moving average price is $292.76 and its 200 day moving average price is $278.53. The firm has a market cap of $27.96 billion and a price-to-earnings ratio of 26.87.
Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, April 21st. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.19. The business earned $2.57 billion during the quarter, compared to the consensus estimate of $2.48 billion. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. On average, analysts forecast that Sherwin-Williams Co. will post $12.67 earnings per share for the current year.
In related news, CFO Sean P. Hennessy sold 20,353 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $294.88, for a total value of $6,001,692.64. Following the sale, the chief financial officer now directly owns 92,747 shares in the company, valued at approximately $27,349,235.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Sewell sold 4,598 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $297.39, for a total transaction of $1,367,399.22. Following the completion of the sale, the insider now owns 13,115 shares in the company, valued at $3,900,269.85. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Comerica Bank increased its stake in Sherwin-Williams by 11.6% in the fourth quarter. Comerica Bank now owns 34,540 shares of the company’s stock worth $8,351,000 after buying an additional 3,587 shares during the last quarter. Baillie Gifford & Co. increased its position in Sherwin-Williams by 10.4% in the fourth quarter. Baillie Gifford & Co. now owns 24,814 shares of the company’s stock valued at $6,442,000 after buying an additional 2,342 shares during the period. Chicago Equity Partners LLC increased its position in Sherwin-Williams by 2.3% in the fourth quarter. Chicago Equity Partners LLC now owns 5,255 shares of the company’s stock valued at $1,364,000 after buying an additional 120 shares during the period. Gulf International Bank UK Ltd increased its position in Sherwin-Williams by 1.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 23,566 shares of the company’s stock valued at $6,118,000 after buying an additional 410 shares during the period. Finally, Burney Co. increased its position in Sherwin-Williams by 8.0% in the fourth quarter. Burney Co. now owns 11,451 shares of the company’s stock valued at $3,026,000 after buying an additional 849 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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