Investors Sell Sherwin-Williams Co. (SHW) on Strength (SHW)
Traders sold shares of Sherwin-Williams Co. (NYSE:SHW) on strength during trading hours on Tuesday. $47.55 million flowed into the stock on the tick-up and $75.49 million flowed out of the stock on the tick-down, for a money net flow of $27.94 million out of the stock. Of all equities tracked, Sherwin-Williams had the 0th highest net out-flow for the day. Sherwin-Williams traded up $3.24 for the day and closed at $291.13
A number of analysts have commented on SHW shares. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Wednesday, April 27th. Morgan Stanley reissued a “buy” rating on shares of Sherwin-Williams in a report on Thursday, June 16th. RBC Capital Markets reissued an “outperform” rating and issued a $335.00 target price on shares of Sherwin-Williams in a report on Saturday, August 13th. Robert W. Baird reissued an “outperform” rating and issued a $330.00 target price on shares of Sherwin-Williams in a report on Monday, July 25th. Finally, Seaport Global Securities lowered Sherwin-Williams from an “accumulate” rating to a “neutral” rating and set a $320.00 target price for the company. in a report on Monday, July 11th. 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $319.85.
The stock’s 50 day moving average is $298.31 and its 200-day moving average is $288.30. The company has a market capitalization of $26.72 billion and a price-to-earnings ratio of 24.55.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by $0.10. During the same period in the prior year, the company posted $3.70 EPS. The business earned $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Sherwin-Williams Co. will post $12.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.84 per share. The ex-dividend date is Wednesday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 1.15%.
In other news, insider Joel D. Baxter sold 3,853 shares of the stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO John G. Morikis sold 30,353 shares of the stock in a transaction on 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.
Several hedge funds have modified their holdings of the stock. Stephens Inc. AR raised its stake in shares of 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 in the last quarter. KBC Group NV raised its stake in shares of 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 in the last quarter. Finally, Calvert Investment Management Inc. raised its stake in shares of 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 in 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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