Traders Buy Sherwin-Williams Co. (SHW) on Weakness
Investors purchased shares of Sherwin-Williams Co. (NYSE:SHW) on weakness during trading hours 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 companies 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 research analysts have commented on SHW shares. Sterne Agee CRT raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Thursday. Morgan Stanley reissued a “buy” rating on shares of Sherwin-Williams in a research note on Thursday, June 16th. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $324.00 target price for the company in a research note on Tuesday, May 3rd. Seaport Global Securities downgraded Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 target price for the company. in a research note on Monday, July 11th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $335.00 target price on shares of Sherwin-Williams in a research note on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $322.75.
The stock has a 50-day moving average price of $297.27 and a 200-day moving average price of $288.56. The firm has a market cap of $26.23 billion and a PE ratio of 24.10.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.16 by $0.10. The firm earned $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the business posted $3.70 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Sherwin-Williams Co. will post $12.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be given a dividend of $0.84 per share. The ex-dividend date is Wednesday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.18%.
In other news, insider Joel D. Baxter sold 3,853 shares of Sherwin-Williams stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the completion of the sale, the insider now owns 8,347 shares in the company, valued at approximately $2,505,435.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John G. Morikis sold 30,353 shares of Sherwin-Williams stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Sherwin-Williams stock. KBC Group NV raised its position in shares of Sherwin-Williams Co. (NYSE:SHW) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the SEC.
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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