SHERWIN-WILLIAMS CO. $84 (New York symbol SHW; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 103.8 million; Market cap: $8.7 billion; Price-to-sales ratio: 1.0; Dividend yield: 1.7%; TSINetwork Rating: Above Average; www.sherwinwilliams.com) recently raised its prices to offset the rising cost of oil (Sherwin needs oil to make its paints). That’s partly why its sales rose 14.4% in the quarter ended September 30, 2011, to $2.5 billion from $2.2 billion a year earlier. Recent acquisitions have also fuelled its growth.
However, it will take several months for Sherwin to realize the full benefits of its higher selling prices. Meanwhile, it continues to integrate its recent purchases. As a result, earnings rose a slower pace of 2.6%, to $179.9 million, or $1.71 a share. A year earlier, it earned $175.3 million, or $1.60 a share.
Sherwin recently settled a tax dispute with the IRS. As a result, it will incur a one-time charge of $75.0 million, or $0.72 a share, in the fourth quarter of 2011.
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