Sherwin-Williams Co. (SHW) Shares Gap Up to $302.10
Sherwin-Williams Co. (NYSE:SHW) gapped up prior to trading on Friday . The stock had previously closed at $301.63, but opened at $302.10. Sherwin-Williams shares last traded at $307.32, with a volume of 303,432 shares.
Several research analysts recently issued reports on the company. Morgan Stanley reissued a “buy” rating on shares of Sherwin-Williams in a research note on Saturday, March 12th. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $324.00 price objective on the stock in a research note on Tuesday, May 3rd. Credit Suisse Group AG assumed coverage on Sherwin-Williams in a research note on Tuesday, March 22nd. They issued an “outperform” rating and a $308.00 price objective on the stock. Argus assumed coverage on Sherwin-Williams in a research note on Wednesday, April 6th. They issued a “hold” rating and a $293.00 price objective on the stock. Finally, Royal Bank Of Canada increased their price objective on Sherwin-Williams from $315.00 to $337.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $310.55.
The firm has a 50 day moving average price of $291.86 and a 200-day moving average price of $277.82. The firm has a market capitalization of $28.04 billion and a PE ratio of 26.94.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, April 21st. The company reported $1.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.19. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.48 billion. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS. Equities analysts expect that Sherwin-Williams Co. will post $12.67 earnings per share for the current fiscal year.
In other Sherwin-Williams news, Director David F. Hodnik sold 843 shares of the business’s stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $297.51, for a total value of $250,800.93. Following the sale, the director now owns 11,895 shares of the company’s stock, valued at $3,538,881.45. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $297.39, for a total value of $1,367,399.22. Following the completion of the sale, the insider now directly owns 13,115 shares in the company, valued at approximately $3,900,269.85. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in shares of Sherwin-Williams by 170.0% in the fourth quarter. Wells Fargo & Company MN now owns 854,238 shares of the company’s stock worth $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 last quarter. Alta Capital Management LLC purchased 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 last quarter. 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 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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