Can Sherwin-Williams Co (SHW)’s Tomorrow be Different? The Stock Formed a Bullish Double Top Pattern

September 17, 2017 - By Peter Erickson

Investors sentiment decreased to 0.95 in 2016 Q4. Its down 0.15, from 1.1 in 2016Q3. It dropped, as 64 investors sold Sherwin-Williams Co shares while 237 reduced holdings. 86 funds opened positions while 200 raised stakes. 66.23 million shares or 0.25% less from 66.39 million shares in 2016Q3 were reported.
55,000 are owned by Axa. Fiera Corp reported 1.09M shares. Blackrock Inc owns 311,488 shares. 100,267 were accumulated by Bamco New York. Moreover, Nomura Incorporated has 0.01% invested in Sherwin-Williams Co (NYSE:SHW). Sirios Cap Limited Partnership invested in 656,705 shares or 8.65% of the stock. Pacad Invest Ltd has invested 0.19% of its portfolio in Sherwin-Williams Co (NYSE:SHW). Wells Fargo & Com Mn accumulated 640,467 shares. Pennsylvania Trust reported 4,163 shares. Tudor Invest Corp Et Al holds 86,306 shares or 0.6% of its portfolio. Ifc Holding Fl holds 0.09% or 3,552 shares in its portfolio. Bbva Compass Bank & Trust reported 0.03% of its portfolio in Sherwin-Williams Co (NYSE:SHW). Barclays Plc invested 0.01% of its portfolio in Sherwin-Williams Co (NYSE:SHW). Franklin Resources Inc stated it has 12,787 shares. Union National Bank Corporation reported 1,050 shares.

Since May 3, 2017, it had 0 buys, and 4 selling transactions for $8.18 million activity. Shares for $3.52 million were sold by Davisson Robert J on Wednesday, May 3. Another trade for 6,350 shares valued at $2.15 million was sold by GILLIGAN THOMAS P. The insider KROPF SUSAN J sold $677,860. Baxter Joel D. had sold 5,470 shares worth $1.84M on Monday, May 15.

The chart of Sherwin-Williams Co (SHW) shows a double top with $368.26 target or 8.00 % above today’s $340.98 share price. The 5 months chart pattern indicates low risk for the $31.85B company. It was reported on Sep, 17 by Finviz.com. If the $368.26 price target is reached, the company will be worth $2.55 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 1.60% or $5.56 on September 15, reaching $340.98. About 960,495 shares traded or 59.08% up from the average. Sherwin-Williams Co (NYSE:SHW) has risen 15.27% since September 17, 2016 and is uptrending. It has underperformed by 1.43% the S&P500.

Analysts expect Sherwin-Williams Co (NYSE:SHW) to report $4.99 EPS on October, 24.They anticipate $0.76 EPS change or 17.97 % from last quarter’s $4.23 EPS. SHW’s profit would be $466.10M giving it 17.08 P/E if the $4.99 EPS is correct. After having $4.52 EPS previously, Sherwin-Williams Co’s analysts see 10.40 % EPS growth.

Sherwin-Williams Co (NYSE:SHW) Ratings Coverage

Among 21 analysts covering Sherwin-Williams Company (NYSE:SHW), 14 have Buy rating, 0 Sell and 7 Hold. Therefore 67% are positive. Sherwin-Williams Company had 37 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was upgraded by KeyBanc Capital Markets on Tuesday, April 4 to “Overweight”. Seaport Global Securities initiated the stock with “Accumulate” rating in Tuesday, January 5 report. The stock of Sherwin-Williams Co (NYSE:SHW) earned “Buy” rating by RBC Capital Markets on Thursday, July 13. The stock of Sherwin-Williams Co (NYSE:SHW) has “Neutral” rating given on Monday, July 11 by Seaport Global. RBC Capital Markets maintained Sherwin-Williams Co (NYSE:SHW) on Friday, January 29 with “Outperform” rating. On Monday, March 21 the stock rating was downgraded by KeyBanc Capital Markets to “Sector Weight”. The company was reinitiated on Tuesday, March 22 by Credit Suisse. The stock of Sherwin-Williams Co (NYSE:SHW) has “Buy” rating given on Wednesday, July 22 by Northcoast. The stock has “Overweight” rating by KeyCorp on Wednesday, April 5. The stock of Sherwin-Williams Co (NYSE:SHW) has “Buy” rating given on Monday, June 26 by RBC Capital Markets.

More notable recent Sherwin-Williams Co (NYSE:SHW) news were published by: Seekingalpha.com which released: “Sherwin-Williams: A Dividend Aristocrat With Nearly 40 Consecutive Years Of …” on August 21, 2017, also Cleveland.com with their article: “Sherwin-Williams helped make Cleveland the paint capital of the world: PD 175” published on September 17, 2017, Philly.com published: “Nine residents sue Sherwin-Williams over South Jersey Superfund sites” on August 25, 2017. More interesting news about Sherwin-Williams Co (NYSE:SHW) were released by: Nj.com and their article: “Cancer cluster was caused by paint company, lawsuit claims” published on August 24, 2017 as well as Law360.com‘s news article titled: “Sherwin-Williams Pollution Made NJ Residents Sick, Suit Says” with publication date: August 23, 2017.

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