Sherwin-Williams (SHW) Looks to Re-Coat their Profits in 2010
More News related to PPG
- Boeing 787 Flies with PPG Aerospace Transparencies, Coatings, Sealants
- PPG Announces Optical Products Executive Appointment
- PPG Announces Automotive Coatings Executive Appointment
- PPG Announces Automotive Refinish Executive Appointment
- PPG Industries (PPG) Declares $0.54 Quarterly Dividend; 3.6% Yield
More News related to SHW
- Sherwin-Williams (SHW) CEO Enters Trading Plan To Sell Up to 246K Shares
- Sherwin-Williams' Chairman and CEO Establishes 10b5-1 Trading Plan
- Longbow Research Upgrades Sherwin-Williams (SHW) to Neutral
- Sherwin-Williams (SHW) Posts Q4 GAAP EPS of $0.58, $0.71 Ex-Items; Beats Street View; Revs Heavy; Guides Q110 and FY10 EPS
- The Sherwin-Williams Company Reports 2009 Year-end Financial Results
More News related to General News
- Larry Summers Claims Lobbyists Are Slowing Down Financial Reform
- U.S. FDA to Become More Stringent on Medical Imaging Equipment (GE, SI)
- Stocks Rally On Hopes for a "Big Fat" Greek Bailout
- comScore (SCOR) Reports e-Commerce Spending Up Marginally for Q409 (AMZN, EBAY, BKS, MALL, More...)
- Cadbury (CBY) to Continue Idling of Somerdale Manufacturing Facility, Despite Talks with Kraft (KFT)
Sherwin-Williams (NYSE: SHW) is a 133 year old company that has shown exceptional resistance to the economic downturn, a Barron's article reports. The stock is up about 1% to $59.57 in morning trading.
The article states that Barron's is warming up to the stock, citing increasing GDP and productivity. This bides well for sales of paint, coatings, and other finishes. Barron's also mentions that Sherwin-Williams is uncommonly well run.
The company has raised their dividend for each of the past 30 years without skimping on R&D funding or store expansions. The CEO, Chris Connor, uses free cash flow to reduce outstanding shares.
Though sales were down for Q309 to $2 billion, EPS gained a penny to $1.51/share, benefiting from lower raw materials costs. The stock dropped, though, based on soft Q409 guidance. Sherwin-Williams sees EPS of $0.35 - $0.55 versus the consensus of $0.61.
Sherwin-Williams posted EPS of $4.70 in 2007 and $4 last year. The Street consensus is $3.69 currently for FY09, and $4.10 for FY10.
High-margin contractors are one of the biggest growing segments that SHW derives their profits from, accounting for about 59% of total paint sales. The market is expected to grow as well, considering that aging baby-boomers are more likely to hire a pro to paint for them rather than risking injury by doing it themselves.
Finally, Sherwin-Williams has more North American stores than all of its competitors combined, posting about 3,400 stores to PPG's (NYSE: PPG) 409 and Akzo Nobel's 580.
Related Categories
General NewsStocks Mentioned
+1.48Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
