Mary L. Garceau, Senior Vice President, Chief Legal Officer, and Secretary of Sherwin-Williams Co. (NYSE:SHW), recently sold shares amounting to approximately $6.3 million. According to a recent filing, Garceau sold 15,770 shares of common stock on November 26 at a weighted average price of $397.92 per share. Additionally, she acquired 16,500 shares through an option exercise at $136.85 per share. Following these transactions, Garceau's direct holdings in Sherwin-Williams stand at 29,205 shares. The transactions also included a charitable gift of 2,465 shares, with no monetary exchange involved.
In other recent news, Sherwin-Williams has made significant financial moves and experienced noteworthy analyst adjustments. The company amended its credit agreement with Citicorp USA, Inc., extending the maturity of $75 million in commitments from June 2025 to December 2029. This strategic maneuver could offer Sherwin-Williams more flexibility in its financial operations.
On the earnings front, Sherwin-Williams reported consolidated sales growth, improved gross margins, and increased earnings per share in the third quarter of 2024, despite temporary store closures due to hurricanes. The company also announced a 5% price increase set for January 2025, expected to contribute to margin expansion.
In terms of analyst outlooks, Evercore ISI increased Sherwin-Williams' stock price target from $400.00 to $420.00, maintaining an Outperform rating. RBC Capital revised its price target to $446, while Baird raised its target to $360, and Goldman Sachs (NYSE:GS) retained its $410 target. These adjustments reflect the company's recent performance and future growth prospects.
These are recent developments that reflect the dynamic nature of Sherwin-Williams' performance and its interactions with market analysts.
InvestingPro Insights
The recent insider transaction by Mary L. Garceau at Sherwin-Williams Co. (NYSE:SHW) occurs against a backdrop of strong performance for the company. According to InvestingPro data, Sherwin-Williams boasts a substantial market capitalization of $99.27 billion, reflecting its prominent position in the Chemicals industry. The company's stock has shown remarkable momentum, with a 30.45% price total return over the past six months and a 45.06% return over the last year.
Sherwin-Williams' financial health appears robust, with a revenue of $23.05 billion in the last twelve months as of Q3 2023. The company maintains a healthy gross profit margin of 48.46%, indicating strong pricing power and cost management. An InvestingPro Tip highlights that Sherwin-Williams has raised its dividend for 32 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by a dividend yield of 0.72% and an impressive dividend growth of 18.18% in the last twelve months.
However, investors should note that the stock is trading at a high P/E ratio of 38.96, which suggests a premium valuation. This aligns with another InvestingPro Tip indicating that the stock is trading at a high earnings multiple relative to near-term earnings growth. For those considering an investment in Sherwin-Williams, InvestingPro offers 13 additional tips that could provide valuable insights into the company's prospects and valuation.
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