Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Sherwin-Williams Company shares valued at $400,905 were sold by Binns Justin T on May 23. At $259.99 per share, Binns Justin T sold 1,542 shares. The insider’s holdings dropped to 6,877 shares worth approximately $1.47 million following the completion of this transaction.
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Also, MORIKIS JOHN G purchased 2,000 shares, netting a total of over 519,100 in proceeds. Following the buying of shares at $259.55 each, the insider now holds 320,774 shares.
Before that, Mistysyn Allen J had added 1,000 shares to its account. In a trade valued at $253,910, the SVP – Finance & CFO bought The Sherwin-Williams Company shares for $253.91 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $9.39 million.
As published in a research note from BofA Securities on July 13, 2022, The Sherwin-Williams Company [SHW] has been rated down from a Buy to a Neutral and the price target has been revised to $292 from $313. This represents a 26.77% premium over Wednesday’s closing price. Analysts at Northcoast upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid July. As of May 31, 2022, Credit Suisse has initiated its “an Underperform” rating for SHW. Earlier on March 22, 2022, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for SHW stock which previously was a “a Neutral”.
Analyzing SHW’s Price Performance
On Wednesday, The Sherwin-Williams Company [NYSE: SHW] plunged -2.28% to $213.84. The stock’s lowest price that day was $213.66, but it reached a high of $221.15 in the same session. During the last five days, there has been a drop of approximately -5.32%. Over the course of the year, The Sherwin-Williams Company shares have dropped approximately -39.28%. Shares of the company reached a 52-week high of $350.39 on 01/03/22 and a 52-week low of $213.66 on 09/21/22. A 50-day SMA is recorded $240.25, while a 200-day SMA reached $266.32. Nevertheless, trading volume fell to 1.19 million shares from 1.19 million shares the previous day.
Support And Resistance Levels for The Sherwin-Williams Company (SHW)
According to the 24-hour chart, there is a support level at 211.28, which, if violated, would cause prices to drop to 208.73. In the upper region, resistance lies at 218.77. The next price resistance is at 223.71. RSI (Relative Strength Index) is 31.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.90, which suggests the price will decrease in the coming days. Percent R is at 99.42%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is The Sherwin-Williams Company subject to short interest?
Stocks of The Sherwin-Williams Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.27 million shares to 2.83 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.1 million shares. A decline of -9.54% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.62 of the overall float, the days-to-cover ratio (short ratio) decline to 1.62.
Which companies own the most shares of The Sherwin-Williams Company (SHW)?
According to The Vanguard Group, Inc. filings, the company currently owns 19,781,172 shares, which is about 7.63% of the total SHW shares outstanding. The investor’s shares have appreciated by 87,878 from its previous 13-F filing of 19693294.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,498,750,768. SSgA Funds Management, Inc. reduced a -0.25% interest valued at $2.49 billion while T. Rowe Price Associates, Inc. purchased a 5,499,972 stake. A total of 246,451 shares of The Sherwin-Williams Company were bought by Massachusetts Financial Services during the quarter, and -2,502,992 were sold by Fidelity Management & Research Co. In its current portfolio, Capital Research & Management Co holds 4,735,416 shares valued at $1.1 billion.
In terms of The Sherwin-Williams Company share price expectations, FactSet research, analysts set an average price target of $271.87 in the next 12 months, up nearly 25.67% from the previous closing price of $218.83. Analysts anticipate The Sherwin-Williams Company stock to reach $325.00 by 2022, with the lowest price target being $225.00. In spite of this, 30 analysts ranked The Sherwin-Williams Company stock as an Overweight at the end of 2022. On January 18, 2022, Wells Fargo assigned a price target of “an Equal weight” to the stock and downgraded coverage with a $335.