Sherwin-Williams Co. (SHW) Sees Large Volume Increase
Shares of Sherwin-Williams Co. (NYSE:SHW) saw unusually-strong trading volume on Monday . Approximately 771,844 shares traded hands during trading, an increase of 26% from the previous session’s volume of 611,410 shares.The stock last traded at $287.07 and had previously closed at $287.77.
A number of analysts recently commented on SHW shares. Zacks Investment Research upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a report on Wednesday, April 27th. Morgan Stanley reiterated a “buy” rating on shares of Sherwin-Williams in a report on Thursday, June 16th. Seaport Global Securities lowered Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 price target on the stock. in a report on Monday, July 11th. RBC Capital Markets reiterated an “outperform” rating and set a $335.00 price target on shares of Sherwin-Williams in a report on Saturday, August 13th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $330.00 price target on shares of Sherwin-Williams in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $319.85.
The company has a market capitalization of $26.42 billion and a P/E ratio of 24.28. The firm’s 50-day moving average is $298.52 and its 200 day moving average is $288.05.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.16 by $0.10. The company earned $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.70 EPS. On average, equities analysts anticipate that Sherwin-Williams Co. will post $12.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be paid a dividend of $0.84 per share. The ex-dividend date is Wednesday, August 17th. This represents a $3.36 annualized dividend and a yield of 1.17%.
In other Sherwin-Williams news, CEO John G. Morikis sold 30,353 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the sale, the chief executive officer now directly owns 119,804 shares in the company, valued at approximately $35,791,445. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $300.16, for a total value of $1,156,516.48. Following the transaction, the insider now directly owns 8,347 shares in the company, valued at $2,505,435.52. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. Calvert Investment Management Inc. boosted its position in Sherwin-Williams by 50.4% in the fourth quarter. Calvert Investment Management Inc. now owns 6,179 shares of the company’s stock valued at $1,604,000 after buying an additional 2,070 shares during the last quarter. KBC Group NV boosted its position in Sherwin-Williams by 4.3% in the fourth quarter. KBC Group NV now owns 12,019 shares of the company’s stock valued at $3,120,000 after buying an additional 495 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in Sherwin-Williams by 242.2% in the fourth quarter. Stephens Inc. AR now owns 5,438 shares of the company’s stock valued at $1,412,000 after buying an additional 3,849 shares during 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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