This article first appeared on GuruFocus.
SPDR Dow Jones Industrial Average ETF (DIA) led the buying in Wednesday’s session, adding $37.7 million of Sherwin-Williams stock. Overall, ETF activity was net positive at $34.7 million, with 33 ETFs buying and 11 selling. The move follows a mixed stretch: net outflows of $4.2 million on Nov. 3 and $15.1 million on Oct. 30, offset by inflows of $9.1 million on Nov. 2 and $6.9 million on Oct. 29. Wednesday’s buying marks the first day of the current same-direction streak.
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Which ETFs bought SHW on Wednesday?
The largest buyers by dollar value were DIA ($37.7 million), IVV ($2.3 million) and SPYM ($1.2 million). In all, 33 ETFs added shares and 11 cut them.
DIA drove the move with a 103,845-share increase, lifting its stake by 2.03% to 5,217,640 shares, at a 4.05% portfolio weight. IVV added 6,336 shares for $2.3 million, SPYM added 3,264 shares for $1.2 million, and RSP added 2,977 shares for $1.1 million. UDOW, URTH, IVE and NOBL each contributed $0.3 million to $0.4 million. Sherwin-Williams is a Basic Materials company in the Specialty Chemicals industry with a market cap of $84.3 billion.
Have ETFs been buying or selling SHW lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does SHW do?
Sherwin-Williams is the largest paint and coatings company in the world by revenue. Its Paint Stores Group operates about 5,000 company-owned stores across North America serving professional painting contractors, its core customer, and DIY consumers with Sherwin-Williams branded architectural paint, a controlled-distribution model that competitors cannot replicate.
Sherwin-Williams reported trailing-12-month revenue of $24.91 billion, up 9.3% year over year, with a gross margin of 47.5% and a net margin of 10.7%. It trades at a P/E of 32.07, P/B of 21.2 and P/S of 3.45, against a market cap of $84.3 billion. The stock has a GF Score of 84, and its GF Value of $375.45 compares with a price of $349.01. It offers a dividend yield of 1.0% and has returned 8.48% year to date.