5 Best Basic Materials Stocks to Buy Now

2. The Sherwin-Williams Company (NYSE:SHW)

Number of Hedge Fund Holders: 64

Ranking 2nd in our list of the best basic materials stocks to buy now is The Sherwin-Williams Company (NYSE:SHW). The paint and coatings company last month posted upbeat first quarter results. Adjusted EPS in the quarter was $2.04, beating estimates by $0.25. Revenue in the period increased by 8.8% year over year to $5.44 billion, surpassing estimates by $300 million.

Insider Monkey’s database of 943 hedge funds shows that 64 hedge funds had stakes in The Sherwin-Williams Company (NYSE:SHW) at the end of the fourth quarter of 2022.

ClearBridge Large Cap Growth Strategy made the following comment about The Sherwin-Williams Company (NYSE:SHW) in its Q4 2022 investor letter:

“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. We saw mixed results from this group in the fourth quarter, with paint and coatings maker The Sherwin-Williams Company (NYSE:SHW) benefiting from significant pricing power that will allow it to grow earnings handsomely with only modest revenue increases. “