Did You Miss Sherwin-Williams Company's Big Move in October?
Sherwin-Williams (NYSE: SHW) continues to paint a pretty picture on the stock exchanges, with October turning out to be another big month as the paint and coatings stock soared 10.4%, extending its year-to-date to a jaw-dropping 47% as of Oct. 31. That, despite the company reporting a double-digit percentage drop in net income for the third quarter. What gives?
Sherwin-Williams shares took off after the company reported its third-quarter numbers on Oct. 23. Investors were eagerly awaiting this quarterly report, as they wanted to see how Sherwin-Williams' just-concluded acquisition of Valspar would be reflected in its numbers.
The company didn't disappoint: It reported record quarterly sales of $4.51 billion, up 37% year over year, the bulk of which came from Valspar. Sherwin-Williams' same-store sales in the U.S. and Canada, a figure which includes stores open at least 12 months and is an important gauge of organic growth, jumped 5.2% during the quarter.
Source: Fool.com
Sherwin-Williams Co. Aktie
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