Traders Buy Sherwin-Williams Co. (SHW) on Weakness
Investors bought shares of Sherwin-Williams Co. (NYSE:SHW) on weakness during trading on Friday. $48.89 million flowed into the stock on the tick-up and $37.08 million flowed out of the stock on the tick-down, for a money net flow of $11.81 million into the stock. Of all equities tracked, Sherwin-Williams had the 8th highest net in-flow for the day. Sherwin-Williams traded down ($0.69) for the day and closed at $285.82
Several analysts have issued reports 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, July 12th. Seaport Global Securities lowered shares of Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 price target on the stock. in a research report on Monday, July 11th. Sterne Agee CRT upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday. Morgan Stanley restated an “overweight” rating and issued a $322.00 price target on shares of Sherwin-Williams in a research report on Wednesday, July 20th. Finally, Robert W. Baird restated an “outperform” rating and issued a $330.00 price target on shares of Sherwin-Williams in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $322.75.
The firm has a 50-day moving average price of $297.27 and a 200 day moving average price of $288.56. The company has a market capitalization of $26.23 billion and a P/E ratio of 24.10.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.16 by $0.10. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. Sherwin-Williams’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts anticipate that Sherwin-Williams Co. will post $12.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 17th.
In other news, insider Joel D. Baxter sold 3,853 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,505,435.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John G. Morikis sold 30,353 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the completion of the transaction, the chief executive officer now directly owns 119,804 shares in the company, valued at $35,791,445. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Sherwin-Williams stock. KBC Group NV increased its stake in shares of Sherwin-Williams Co. (NYSE:SHW) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,019 shares of the company’s stock after buying an additional 495 shares during the period. KBC Group NV’s holdings in Sherwin-Williams were worth $3,120,000 at the end of the most recent reporting 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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