Could Sherwin-Williams Co (SHW) Go Up? The Stock Formed Bullish Double Top Pattern

September 17, 2017 - By Henry Gaston

Investors sentiment decreased to 0.95 in 2016 Q4. Its down 0.15, from 1.1 in 2016Q3. It worsened, 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.
Nippon Life Insur reported 5,716 shares. The Texas-based Exxonmobil Inv Management Tx has invested 0.11% in Sherwin-Williams Co (NYSE:SHW). Meiji Yasuda Life Insur holds 0.19% or 4,159 shares. Us Retail Bank De has 0.05% invested in Sherwin-Williams Co (NYSE:SHW) for 50,988 shares. Yorkville Capital Mgmt Ltd Company holds 0.21% of its portfolio in Sherwin-Williams Co (NYSE:SHW) for 800 shares. Bridgewater Lp has 15,900 shares for 0.04% of their portfolio. Gam Holdings Ag has invested 0.07% in Sherwin-Williams Co (NYSE:SHW). Boston Family Office Ltd Liability has invested 0.31% in Sherwin-Williams Co (NYSE:SHW). Hl Financial Serv Ltd Liability Corp has 0.25% invested in Sherwin-Williams Co (NYSE:SHW). Sumitomo Mitsui Asset Mngmt Limited has invested 0.03% in Sherwin-Williams Co (NYSE:SHW). Strs Ohio owns 235,772 shares for 0.28% of their portfolio. Art Advisors Lc has invested 0.08% of its portfolio in Sherwin-Williams Co (NYSE:SHW). Rockland Tru Company reported 1.34% stake. Moreover, Bamco Incorporated has 0.15% invested in Sherwin-Williams Co (NYSE:SHW) for 100,267 shares. Moreover, Copeland Cap Management Limited has 0.71% invested in Sherwin-Williams Co (NYSE:SHW).

Since May 3, 2017, it had 0 insider purchases, and 4 insider sales for $8.18 million activity. 10,500 shares were sold by Davisson Robert J, worth $3.52 million. Shares for $2.15 million were sold by GILLIGAN THOMAS P. $1.84M worth of Sherwin-Williams Co (NYSE:SHW) was sold by Baxter Joel D. on Monday, May 15. Another trade for 2,000 shares valued at $677,860 was made by KROPF SUSAN J on Friday, May 5.

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 await Sherwin-Williams Co (NYSE:SHW) to report earnings on October, 24. They expect $4.99 earnings per share, up 17.97 % or $0.76 from last year’s $4.23 per share. SHW’s profit will be $466.10 million for 17.08 P/E if the $4.99 EPS becomes a reality. After $4.52 actual earnings per share reported by Sherwin-Williams Co for the previous quarter, Wall Street now forecasts 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. KeyBanc Capital Markets downgraded Sherwin-Williams Co (NYSE:SHW) on Monday, March 21 to “Sector Weight” rating. The stock has “Positive” rating by Susquehanna on Monday, March 21. The stock of Sherwin-Williams Co (NYSE:SHW) has “Outperform” rating given on Friday, January 29 by RBC Capital Markets. Sterne Agee CRT upgraded Sherwin-Williams Co (NYSE:SHW) rating on Tuesday, August 25. Sterne Agee CRT has “Neutral” rating and $285.0 target. On Monday, November 2 the stock rating was maintained by Barclays Capital with “Equal Weight”. The rating was upgraded by Goldman Sachs to “Buy” on Wednesday, January 20. The firm has “Buy” rating given on Friday, September 1 by KeyBanc Capital Markets. The rating was downgraded by Longbow to “Neutral” on Thursday, January 5. The rating was initiated by Wells Fargo on Thursday, September 29 with “Market Perform”. The firm earned “Overweight” rating on Tuesday, April 4 by KeyBanc Capital Markets.

More notable recent Sherwin-Williams Co (NYSE:SHW) news were published by: Cleveland.com which released: “Sherwin-Williams helped make Cleveland the paint capital of the world: PD 175” on September 17, 2017, also Nj.com with their article: “Cancer cluster was caused by paint company, lawsuit claims” published on August 24, 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: Seekingalpha.com and their article: “Sherwin-Williams: A Dividend Aristocrat With Nearly 40 Consecutive Years Of …” published on August 21, 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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